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

Digital Turbine (NASDAQ:APPS) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

APPS has been the subject of a number of other reports. Craig Hallum reduced their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Macquarie dropped their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Price Performance

APPS stock opened at $6.52 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The company’s fifty day simple moving average is $2.26 and its 200 day simple moving average is $2.55. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $6.86. The firm has a market cap of $684.67 million, a price-to-earnings ratio of -2.15 and a beta of 2.38.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after purchasing an additional 181,032 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Digital Turbine by 4.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock worth $6,051,000 after buying an additional 77,185 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Digital Turbine in the fourth quarter valued at approximately $1,698,000. Charles Schwab Investment Management Inc. increased its position in shares of Digital Turbine by 14.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker’s stock valued at $1,498,000 after acquiring an additional 110,427 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Digital Turbine by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker’s stock worth $916,000 after purchasing an additional 153,991 shares during the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.