Digital Turbine (NASDAQ:APPS) Cut to Buy at Wall Street Zen

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

A number of other research analysts have also weighed in on APPS. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. Roth Capital reaffirmed a “buy” rating and set a $17.50 price target on shares of Digital Turbine in a report on Thursday. Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Benchmark upped their price objective on shares of Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Craig Hallum reiterated a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $14.39 on Friday. The company has a market capitalization of $1.74 billion, a PE ratio of -55.35, a PEG ratio of 0.53 and a beta of 2.81. Digital Turbine has a 12 month low of $2.74 and a 12 month high of $15.34. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $10.07 and its 200 day simple moving average is $6.21.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, research analysts predict that Digital Turbine will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC purchased a new stake in shares of Digital Turbine in the first quarter worth approximately $14,100,000. Invesco Ltd. boosted its position in shares of Digital Turbine by 369.0% during the fourth quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after buying an additional 1,438,986 shares during the last quarter. Manatuck Hill Partners LLC boosted its position in shares of 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 valued at $10,000,000 after buying an additional 1,400,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 846,116 shares in the last quarter. Finally, Granahan Investment Management LLC grew its holdings in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after buying an additional 762,888 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Digital Turbine

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.