Digital Turbine (NASDAQ:APPS) Stock Gets Downgrade from Wall Street Zen

Digital Turbine (NASDAQ:APPS) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Royal Bank Of Canada assumed coverage on shares of Digital Turbine in a report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price target on the stock. Benchmark increased their price objective on Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Northland Securities began coverage on Digital Turbine in a report on Thursday. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Six equities 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 stock. Based on data from MarketBeat.com, Digital Turbine presently has a consensus rating of “Moderate Buy” and an average target price of $15.42.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $8.87 on Friday. Digital Turbine has a 1 year low of $2.74 and a 1 year high of $15.34. The stock’s 50-day simple moving average is $10.74 and its 200-day simple moving average is $7.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -34.12, a PEG ratio of 0.42 and a beta of 3.02.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. The company had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. As a group, equities analysts anticipate that Digital Turbine will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC lifted its holdings in shares of Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after purchasing an additional 762,888 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of Digital Turbine in the 1st quarter worth $14,100,000. Bank of America Corp DE increased its stake in Digital Turbine by 17.4% in the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after buying an additional 535,169 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Digital Turbine by 56.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after acquiring an additional 846,116 shares during the last quarter. Finally, GC Wealth Management RIA LLC raised its stake in shares of Digital Turbine by 41.9% during the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock valued at $1,660,000 after acquiring an additional 170,134 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Company Profile

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.