Digital Turbine Inc. (APPS) Downgraded by Zacks Investment Research
Digital Turbine Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “
Other analysts also recently issued research reports about the company. Ladenburg Thalmann raised Digital Turbine from a “neutral” rating to a “buy” rating and lifted their target price for the company from $1.26 to $2.35 in a research note on Wednesday, August 31st. B. Riley reaffirmed a “buy” rating and set a $1.70 target price on shares of Digital Turbine in a research note on Wednesday, August 10th. Leerink Swann downgraded Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 target price on the stock. in a research note on Tuesday, June 14th. Craig Hallum downgraded Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Roth Capital downgraded Digital Turbine from a “buy” rating to a “neutral” rating in a research note on Monday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $2.83.
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Digital Turbine (NASDAQ:APPS) traded down 12.500% during mid-day trading on Tuesday, hitting $0.875. The company had a trading volume of 927,193 shares. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.07. The company’s market cap is $58.30 million. Digital Turbine has a one year low of $0.73 and a one year high of $1.80.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.03. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The company had revenue of $24.04 million for the quarter, compared to analyst estimates of $23.82 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities research analysts anticipate that Digital Turbine will post ($0.29) EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Paloma Partners Management Co purchased a new stake in Digital Turbine during the second quarter worth approximately $225,000. Geode Capital Management LLC increased its stake in 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 in the last quarter. Trellus Management Company LLC increased its stake in 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 in the last quarter. State Street Corp increased its stake in 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 in the last quarter. Finally, White Pine Capital LLC increased its stake in 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 in the last quarter. 18.88% of the stock is currently owned by institutional investors.
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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