Digital Turbine (NASDAQ:APPS) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a research report released on Wednesday morning.

Several other equities research analysts also recently weighed in on the company. Macquarie cut their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Craig Hallum decreased their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.38.

Digital Turbine Trading Up 12.7 %

Shares of NASDAQ APPS opened at $6.14 on Wednesday. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $6.40. The business’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.55. The company has a current ratio of 1.06, a quick ratio of 1.09 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts predict that Digital Turbine will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after purchasing an additional 4,167 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Digital Turbine in the fourth quarter valued at approximately $28,000. Plancorp LLC purchased a new stake in shares of Digital Turbine in the fourth quarter valued at approximately $35,000. Ballentine Partners LLC acquired a new position in shares of Digital Turbine during the 3rd quarter worth approximately $43,000. Finally, Ieq Capital LLC purchased a new position in shares of Digital Turbine during the 4th quarter valued at approximately $55,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.