Craig Hallum Lowers Digital Turbine Inc. (APPS) to Hold
Digital Turbine Inc. (NASDAQ:APPS) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued on Tuesday, The Fly reports.
A number of other equities research analysts have also weighed in on the stock. Ladenburg Thalmann raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $1.26 to $2.35 in a report on Wednesday, August 31st. Roth Capital lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating in a report on Monday, September 26th. Leerink Swann lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price target on the stock. in a report on Tuesday, June 14th. Zacks Investment Research raised shares of Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 price target on the stock in a report on Tuesday, June 14th. Finally, B. Riley reaffirmed a “buy” rating and issued a $1.70 price target on shares of Digital Turbine in a report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.83.
Shares of Digital Turbine (NASDAQ:APPS) traded down 6.00% on Tuesday, hitting $0.94. The stock had a trading volume of 265,579 shares. The firm’s market cap is $62.64 million. Digital Turbine has a 12 month low of $0.73 and a 12 month high of $1.80. The firm’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.07.
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Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $24.04 million for the quarter, compared to analysts’ expectations of $23.82 million. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. Digital Turbine’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.22) earnings per share. Analysts anticipate that Digital Turbine will post ($0.29) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of APPS. Paloma Partners Management Co purchased a new position in shares of Digital Turbine during the second quarter worth $225,000. Keane Capital Partners LLC increased its position in shares of Digital Turbine by 19.5% in the second quarter. Keane Capital Partners LLC now owns 1,093,064 shares of the company’s stock worth $1,170,000 after buying an additional 178,423 shares during the period. White Pine Capital LLC increased its position 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. S Squared Technology LLC increased its position in shares of Digital Turbine by 9.3% in the second quarter. S Squared Technology LLC now owns 1,332,320 shares of the company’s stock worth $1,426,000 after buying an additional 113,300 shares during the period. Finally, P.A.W. Capital Corp increased its position in shares of Digital Turbine by 28.9% in the second quarter. P.A.W. Capital Corp now owns 980,000 shares of the company’s stock worth $1,049,000 after buying an additional 220,000 shares during the period. Institutional investors and hedge funds own 18.88% of the company’s stock.
Digital Turbine Company Profile
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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