Digital Turbine Inc. (APPS) Stock Rating Lowered by Roth Capital
Digital Turbine Inc. (NASDAQ:APPS) was downgraded by analysts at Roth Capital from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.
Several other research firms also recently commented on APPS. Ladenburg Thalmann raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and upped their price objective for the company from $1.26 to $2.35 in a report on Wednesday, August 31st. B. Riley reaffirmed a “buy” rating and issued a $1.70 price objective on shares of Digital Turbine in a report on Wednesday, August 10th. Leerink Swann downgraded shares of Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price objective on the stock. in a report on Tuesday, June 14th. Finally, Zacks Investment Research raised shares of Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 price objective on the stock in a report on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $2.83.
Digital Turbine (NASDAQ:APPS) opened at 1.01 on Monday. Digital Turbine has a 52 week low of $0.73 and a 52 week high of $1.97. The stock’s 50 day moving average is $1.19 and its 200 day moving average is $1.08. The company’s market capitalization is $67.30 million.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.03. The business earned $24.04 million during the quarter, compared to analysts’ expectations of $23.82 million. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same period last year, the company earned ($0.22) earnings per share. On average, equities research analysts expect that Digital Turbine will post ($0.29) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new stake in shares of Digital Turbine during the second quarter worth about $225,000. Keane Capital Partners LLC boosted its position in Digital Turbine by 19.5% in the second quarter. Keane Capital Partners LLC now owns 1,093,064 shares of the company’s stock worth $1,170,000 after buying an additional 178,423 shares in the last quarter. White Pine Capital LLC boosted its position in Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock worth $664,000 after buying an additional 68,200 shares in the last quarter. S Squared Technology LLC boosted its position in Digital Turbine by 9.3% in the second quarter. S Squared Technology LLC now owns 1,332,320 shares of the company’s stock worth $1,426,000 after buying an additional 113,300 shares in the last quarter. Finally, P.A.W. Capital Corp boosted its position in Digital Turbine by 28.9% in the second quarter. P.A.W. Capital Corp now owns 980,000 shares of the company’s stock worth $1,049,000 after buying an additional 220,000 shares in the last quarter. 18.88% of the stock is currently owned by hedge funds and other institutional investors.
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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