Digital Turbine (NASDAQ:APPS) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Digital Turbine (NASDAQ:APPS) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Digital Turbine presently has an average rating of “Hold” and an average target price of $7.75.

Digital Turbine Price Performance

Shares of NASDAQ APPS traded up $0.16 during mid-day trading on Monday, reaching $3.18. The company’s stock had a trading volume of 549,819 shares, compared to its average volume of 2,845,917. The stock has a 50-day moving average of $3.87 and a two-hundred day moving average of $4.95. The stock has a market capitalization of $381.28 million, a P/E ratio of -6.70, a P/E/G ratio of 0.11 and a beta of 2.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.10 and a current ratio of 1.10. Digital Turbine has a 1-year low of $2.13 and a 1-year high of $8.28.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, February 3rd. The software maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $151.40 million during the quarter, compared to analysts’ expectations of $145.72 million. Digital Turbine had a negative net margin of 8.93% and a positive return on equity of 21.26%. On average, equities research analysts anticipate that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APPS. Granahan Investment Management LLC boosted its stake in Digital Turbine by 77.2% during the third quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock worth $36,569,000 after buying an additional 2,489,376 shares during the period. AIGH Capital Management LLC purchased a new position in Digital Turbine during the third quarter worth about $9,748,000. Invesco Ltd. boosted its stake in Digital Turbine by 369.0% during the fourth quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock worth $9,145,000 after buying an additional 1,438,986 shares during the period. G2 Investment Partners Management LLC purchased a new position in Digital Turbine during the second quarter worth about $8,341,000. Finally, Manatuck Hill Partners LLC boosted its stake in Digital Turbine by 233.3% during the fourth quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after buying an additional 1,400,000 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.