StockNews.com Lowers Digital Turbine (NASDAQ:APPS) to Sell

StockNews.com downgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other brokerages also recently issued reports on APPS. Craig Hallum cut their price target on shares of Digital Turbine from $12.00 to $10.00 and set a buy rating for the company in a report on Thursday, February 8th. Roth Mkm dropped their target price on shares of Digital Turbine from $5.50 to $4.50 and set a neutral rating for the company in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $7.50.

Digital Turbine Stock Performance

Shares of APPS opened at $1.82 on Monday. The company has a 50-day simple moving average of $2.67 and a 200-day simple moving average of $4.54. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $185.68 million, a PE ratio of -0.92, a P/E/G ratio of 4.77 and a beta of 2.48. Digital Turbine has a 52-week low of $1.78 and a 52-week high of $14.61.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $142.63 million during the quarter, compared to analysts’ expectations of $146.45 million. Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. Equities research analysts predict that Digital Turbine will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. boosted its stake in shares of Digital Turbine by 395.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 4,848 shares of the software maker’s stock worth $29,000 after purchasing an additional 3,869 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of Digital Turbine during the 4th quarter worth about $34,000. GAMMA Investing LLC acquired a new stake in shares of Digital Turbine during the 4th quarter worth about $43,000. New Mexico Educational Retirement Board acquired a new stake in shares of Digital Turbine during the 1st quarter worth about $47,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Digital Turbine during the 1st quarter worth about $55,000. 63.66% of the stock is currently 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.