Craig Hallum Downgrades Digital Turbine Inc. (APPS) to Hold
Digital Turbine Inc. (NASDAQ:APPS) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Tuesday, The Fly reports.
Several other research firms have also issued reports on APPS. Ladenburg Thalmann upgraded Digital Turbine from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1.26 to $2.35 in a research report on Wednesday, August 31st. B. Riley restated a “buy” rating and issued a $1.70 price target on shares of Digital Turbine in a research report on Wednesday, August 10th. Leerink Swann lowered Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price target on the stock. in a research report on Tuesday, June 14th. Zacks Investment Research upgraded Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 price target on the stock in a research report on Tuesday, June 14th. Finally, Roth Capital lowered Digital Turbine from a “buy” rating to a “neutral” rating in a report on Monday, September 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Digital Turbine presently has a consensus rating of “Hold” and a consensus price target of $2.83.
Shares of Digital Turbine (NASDAQ:APPS) traded down 5.00% on Tuesday, hitting $0.95. The stock had a trading volume of 238,387 shares. The firm’s 50 day moving average is $1.19 and its 200-day moving average is $1.07. The stock’s market capitalization is $63.30 million. Digital Turbine has a one year low of $0.73 and a one year high of $1.80.
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Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Digital Turbine had a negative return on equity of 30.82% and a negative net margin of 29.61%. The company earned $24.04 million during the quarter, compared to the consensus estimate of $23.82 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities research analysts expect that Digital Turbine will post ($0.29) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of APPS. Paloma Partners Management Co acquired a new position in Digital Turbine during the second quarter valued at $225,000. Geode Capital Management LLC raised its stake in shares of Digital Turbine by 7.4% in the first quarter. Geode Capital Management LLC now owns 257,594 shares of the company’s stock worth $306,000 after buying an additional 17,789 shares during the period. Trellus Management Company LLC raised its stake in shares of Digital Turbine by 3.5% in the second quarter. Trellus Management Company LLC now owns 470,100 shares of the company’s stock worth $503,000 after buying an additional 16,000 shares during the period. State Street Corp raised its stake in shares of Digital Turbine by 29.2% in the first quarter. State Street Corp now owns 506,334 shares of the company’s stock worth $605,000 after buying an additional 114,424 shares during the period. Finally, White Pine Capital LLC raised its stake in shares of Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock worth $664,000 after buying an additional 68,200 shares during the period. Hedge funds and other institutional investors own 18.88% of the company’s stock.
About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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