Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

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

Separately, Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. One 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. According to MarketBeat, Digital Turbine presently has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Trading Up 5.3 %

NASDAQ:APPS opened at $3.35 on Friday. The stock has a fifty day moving average price of $3.29 and a two-hundred day moving average price of $2.69. The stock has a market capitalization of $351.77 million, a price-to-earnings ratio of -1.11 and a beta of 2.43. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $6.86.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data 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 positive return on equity of 3.41% and a negative net margin of 64.06%. As a group, sell-side analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Digital Turbine in the fourth quarter valued at $28,000. Plancorp LLC acquired a new position in Digital Turbine in the 4th quarter valued at about $35,000. US Bancorp DE raised its stake in Digital Turbine by 37.7% in the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after purchasing an additional 7,266 shares during the last quarter. ProShare Advisors LLC raised its stake in Digital Turbine by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock valued at $46,000 after purchasing an additional 8,892 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Digital Turbine in the 3rd quarter valued at about $84,000. 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.