StockNews.com Upgrades Digital Turbine (NASDAQ:APPS) to “Hold”

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a report issued on Wednesday morning.

APPS has been the topic of several other reports. Craig Hallum decreased their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Finally, Macquarie cut their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.38.

Digital Turbine Stock Down 5.1 %

Shares of NASDAQ APPS opened at $6.19 on Wednesday. The firm’s 50-day moving average price is $2.46 and its 200-day moving average price is $2.60. The company has a current ratio of 1.06, a quick ratio of 1.09 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $649.99 million, a price-to-earnings ratio of -2.04 and a beta of 2.38. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $6.86.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities research analysts anticipate that Digital Turbine will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Geode Capital Management LLC grew its stake in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after acquiring an additional 181,032 shares in the last quarter. Barclays PLC grew its stake in Digital Turbine by 62.5% in the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after acquiring an additional 97,196 shares in the last quarter. SG Americas Securities LLC grew its stake in Digital Turbine by 80.9% in the 3rd quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock worth $154,000 after acquiring an additional 22,385 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Digital Turbine in the 3rd quarter worth about $185,000. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.