Digital Turbine (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
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. “
APPS has been the topic of several other reports. Roth Capital reaffirmed a “buy” rating on shares of Digital Turbine in a research note on Monday, December 4th. ValuEngine cut Digital Turbine from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $2.00 price target (up from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Digital Turbine currently has a consensus rating of “Hold” and a consensus price target of $1.91.
Hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. purchased a new stake in Digital Turbine in the third quarter worth $101,000. Granahan Investment Management Inc. MA purchased a new stake in Digital Turbine in the third quarter worth $350,000. EAM Investors LLC purchased a new stake in Digital Turbine in the third quarter worth $465,000. Essex Investment Management Co. LLC purchased a new stake in Digital Turbine in the third quarter worth $665,000. Finally, Trellus Management Company LLC grew its stake in shares of Digital Turbine by 16.8% in the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after acquiring an additional 100,689 shares during the last quarter. 19.85% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “Digital Turbine (APPS) Cut to Sell at Zacks Investment Research” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/12/digital-turbine-apps-cut-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.