Zacks Investment Research Lowers Digital Turbine Inc. (APPS) to Sell
Digital Turbine Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 equities research analysts have also issued reports about the company. B. Riley reissued a “buy” rating and set a $1.70 price target on shares of Digital Turbine in a research report on Monday, August 15th. Craig Hallum lowered Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday. Ladenburg Thalmann lowered Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 14th. Leerink Swann lowered Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 target price 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 research report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock 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% on Tuesday, hitting $0.875. The stock had a trading volume of 927,193 shares. Digital Turbine has a one year low of $0.73 and a one year high of $1.80. The company’s market cap is $58.30 million. The stock has a 50-day moving average of $1.19 and a 200-day moving average of $1.07.
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. The firm had revenue of $24.04 million for the quarter, compared to analyst estimates of $23.82 million. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The business’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. Equities analysts expect that Digital Turbine will post ($0.29) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Paloma Partners Management Co acquired a new position in Digital Turbine during the second quarter valued at about $225,000. Keane Capital Partners LLC boosted its position in Digital Turbine by 19.5% in the second quarter. Keane Capital Partners LLC now owns 1,093,064 shares of the company’s stock valued at $1,170,000 after buying an additional 178,423 shares during the last quarter. White Pine Capital LLC boosted its position in Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock valued at $664,000 after buying an additional 68,200 shares during the last quarter. S Squared Technology LLC boosted its position in Digital Turbine by 9.3% in the second quarter. S Squared Technology LLC now owns 1,332,320 shares of the company’s stock valued at $1,426,000 after buying an additional 113,300 shares during the last quarter. Finally, P.A.W. Capital Corp boosted its position in Digital Turbine by 28.9% in the second quarter. P.A.W. Capital Corp now owns 980,000 shares of the company’s stock valued at $1,049,000 after buying an additional 220,000 shares during the last quarter. 18.88% of the stock is owned by institutional investors.
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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