Digital Turbine (NASDAQ:APPS) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Digital Turbine (NASDAQ:APPS) from a strong-buy rating to a buy rating in a report published on Sunday,Wall Street Zen reports.

APPS has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. Roth Capital began coverage on shares of Digital Turbine in a report on Thursday, October 15th. They set a “buy” rating and a $19.00 price target for the company. Royal Bank Of Canada initiated coverage on shares of Digital Turbine in a research report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price target on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a research note on Wednesday, August 5th. Finally, TD Cowen reiterated a “hold” rating on shares of Digital Turbine in a research report on Tuesday, September 29th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.42.

Digital Turbine Stock Performance

NASDAQ APPS opened at $10.38 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of -39.92, a price-to-earnings-growth ratio of 0.53 and a beta of 3.01. The business’s 50-day moving average price is $10.59 and its two-hundred day moving average price is $7.65. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. Digital Turbine has a 12 month low of $2.74 and a 12 month high of $15.34.

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in Digital Turbine during the 3rd quarter valued at $299,000. Aberdeen Group plc purchased a new position in Digital Turbine during the 3rd quarter valued at about $3,955,000. Pictet Asset Management Holding SA purchased a new position in Digital Turbine during the 3rd quarter valued at about $234,000. CenterBook Partners LP purchased a new stake in shares of Digital Turbine in the third quarter worth about $1,358,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Digital Turbine in the third quarter valued at approximately $264,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.