Zacks Investment Research Upgrades Digital Turbine (APPS) to Hold

Digital Turbine (NASDAQ:APPS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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 research reports about the company. B. Riley reissued a “buy” rating and set a $1.40 price target on shares of Digital Turbine in a research note on Monday, August 14th. ValuEngine raised Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Digital Turbine has a consensus rating of “Buy” and a consensus target price of $1.55.

Shares of Digital Turbine (APPS) traded down $0.07 during trading hours on Friday, hitting $1.69. The stock had a trading volume of 803,674 shares, compared to its average volume of 295,354. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78. Digital Turbine has a fifty-two week low of $0.59 and a fifty-two week high of $1.92.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $27.90 million for the quarter, compared to analyst estimates of $26.96 million. Digital Turbine had a negative return on equity of 43.62% and a negative net margin of 23.15%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. analysts expect that Digital Turbine will post -0.18 EPS for the current fiscal year.

In other news, CEO William Gordon Stone III purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $1.56 per share, with a total value of $78,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of APPS. Unterberg Capital LLC lifted its stake in Digital Turbine by 237.5% in the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock valued at $2,039,000 after buying an additional 950,000 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Digital Turbine in the 3rd quarter valued at approximately $665,000. EAM Investors LLC purchased a new stake in Digital Turbine in the 3rd quarter valued at approximately $465,000. Granahan Investment Management Inc. MA purchased a new stake in Digital Turbine in the 3rd quarter valued at approximately $350,000. Finally, White Pine Capital LLC lifted its stake in Digital Turbine by 23.2% in the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after buying an additional 136,800 shares in the last quarter. 20.98% of the stock is currently owned by hedge funds and other institutional investors.

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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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