Digital Turbine, Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Several other research analysts have also recently issued reports on the company. Craig Hallum raised Digital Turbine from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1.10 to $1.50 in a research note on Tuesday, April 25th. Roth Capital raised Digital Turbine from a “neutral” rating to a “buy” rating in a research note on Thursday, March 30th. Ladenburg Thalmann Financial Services increased their price objective on Digital Turbine from $1.25 to $2.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Finally, B. Riley reissued a “buy” rating and issued a $1.15 price objective on shares of Digital Turbine in a research note on Monday, June 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Digital Turbine has an average rating of “Buy” and a consensus target price of $1.54.

Shares of Digital Turbine (NASDAQ APPS) traded down 1.89% on Thursday, reaching $1.04. The company’s stock had a trading volume of 405,179 shares. Digital Turbine has a 12-month low of $0.56 and a 12-month high of $1.55. The company’s 50-day moving average is $1.09 and its 200 day moving average is $0.90. The company’s market capitalization is $69.27 million.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, June 14th. The software maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.02. Digital Turbine had a negative return on equity of 38.00% and a negative net margin of 26.59%. The firm had revenue of $22.40 million during the quarter, compared to the consensus estimate of $21.40 million. During the same period last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts anticipate that Digital Turbine will post ($0.16) earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Digital Turbine during the first quarter valued at about $188,000. Geode Capital Management LLC boosted its stake in shares of Digital Turbine by 0.6% in the first quarter. Geode Capital Management LLC now owns 247,200 shares of the software maker’s stock valued at $232,000 after buying an additional 1,374 shares during the period. Trellus Management Company LLC boosted its stake in shares of Digital Turbine by 5.2% in the first quarter. Trellus Management Company LLC now owns 516,325 shares of the software maker’s stock valued at $485,000 after buying an additional 25,740 shares during the period. Perkins Capital Management Inc. boosted its stake in shares of Digital Turbine by 1.2% in the first quarter. Perkins Capital Management Inc. now owns 898,080 shares of the software maker’s stock valued at $844,000 after buying an additional 11,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Digital Turbine by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,340,701 shares of the software maker’s stock valued at $1,261,000 after buying an additional 21,692 shares during the period. 17.75% of the stock is currently owned by institutional investors and hedge funds.

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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