Digital Turbine (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 brokerages also recently weighed in on APPS. B. Riley reaffirmed a “buy” rating and set a $2.00 target price (up previously from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. ValuEngine downgraded Digital Turbine from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Digital Turbine in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $1.75.

Shares of Digital Turbine (NASDAQ APPS) traded up $0.06 during trading on Thursday, reaching $1.99. The company’s stock had a trading volume of 220,300 shares, compared to its average volume of 482,857. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.19. The company has a market cap of $132.55, a P/E ratio of -6.63 and a beta of 1.36. Digital Turbine has a 52-week low of $0.65 and a 52-week high of $2.07.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $27.90 million for the quarter, compared to the consensus estimate of $26.96 million. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. equities research analysts predict that Digital Turbine will post -0.18 earnings per share for the current year.

In other news, CEO William Gordon Stone III acquired 50,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought 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 accessible through this link. 5.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Granahan Investment Management Inc. MA bought a new stake in shares of Digital Turbine in the 3rd quarter worth $350,000. Unterberg Capital LLC raised its stake in shares of Digital Turbine by 237.5% in the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock worth $2,039,000 after buying an additional 950,000 shares in the last quarter. EAM Investors LLC bought a new stake in shares of Digital Turbine in the 3rd quarter worth $465,000. Perkins Capital Management Inc. raised its stake in shares of Digital Turbine by 5.5% in the 3rd quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock worth $1,376,000 after buying an additional 47,500 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of Digital Turbine in the 3rd quarter worth $101,000. 20.78% of the stock is currently owned by institutional investors.

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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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