Digital Turbine (NASDAQ:APPS) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Digital Turbine (NASDAQ:APPS) from a strong-buy rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

APPS has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. Northland Securities started coverage on shares of Digital Turbine in a research report on Thursday. They issued an “outperform” rating and a $17.00 price objective on the stock. Roth Capital began coverage on Digital Turbine in a research note on Thursday, October 15th. They issued a “buy” rating and a $19.00 price target for the company. Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price on shares of Digital Turbine in a report on Wednesday, August 5th. 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 company’s stock. According to MarketBeat.com, Digital Turbine presently has a consensus rating of “Moderate Buy” and an average target price of $15.42.

Digital Turbine Stock Performance

Digital Turbine stock opened at $8.87 on Friday. The stock’s 50 day moving average price is $10.74 and its 200 day moving average price is $7.54. Digital Turbine has a one year low of $2.74 and a one year high of $15.34. 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 capitalization of $1.07 billion, a PE ratio of -34.12, a price-to-earnings-growth 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 for the quarter, beating the consensus estimate of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. As a group, sell-side analysts expect that Digital Turbine will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Digital Turbine by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after purchasing an additional 846,116 shares during the last quarter. GC Wealth Management RIA LLC grew its stake in Digital Turbine by 41.9% in the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock valued at $1,660,000 after buying an additional 170,134 shares during the last quarter. Granahan Investment Management LLC increased its stake in shares of Digital Turbine by 12.0% in the first 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 during the period. Globeflex Capital L P acquired a new position in shares of Digital Turbine during the first quarter worth approximately $1,227,000. Finally, AIGH Capital Management LLC bought a new stake in Digital Turbine in the 1st quarter valued at $14,100,000. 63.66% of the stock is 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.