Digital Turbine Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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. “

Other equities analysts have also issued reports about the stock. Ladenburg Thalmann upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.26 to $2.35 in a research report on Wednesday, August 31st. B. Riley reiterated a “buy” rating and issued a $1.70 price objective on shares of Digital Turbine in a research report on Monday, August 15th. Craig Hallum lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday. Roth Capital lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Monday, September 26th. Finally, Leerink Swann lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price objective on the stock. in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Digital Turbine has an average rating of “Hold” and a consensus price target of $2.83.

Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

Shares of Digital Turbine (NASDAQ:APPS) traded down 12.500% during midday trading on Tuesday, hitting $0.875. 927,193 shares of the stock were exchanged. Digital Turbine has a 12-month low of $0.73 and a 12-month high of $1.80. The firm has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.07. The firm’s market cap is $58.30 million.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The firm earned $24.04 million during the quarter, compared to analysts’ expectations of $23.82 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 28.6% on a year-over-year basis. Analysts predict that Digital Turbine will post ($0.29) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in shares of Digital Turbine during the second quarter valued at approximately $225,000. Geode Capital Management LLC increased its position in Digital Turbine by 7.4% in the first quarter. Geode Capital Management LLC now owns 257,594 shares of the company’s stock valued at $306,000 after buying an additional 17,789 shares during the period. Trellus Management Company LLC increased its position in Digital Turbine by 3.5% in the second quarter. Trellus Management Company LLC now owns 470,100 shares of the company’s stock valued at $503,000 after buying an additional 16,000 shares during the period. State Street Corp increased its position in Digital Turbine by 29.2% in the first quarter. State Street Corp now owns 506,334 shares of the company’s stock valued at $605,000 after buying an additional 114,424 shares during the period. Finally, White Pine Capital LLC increased 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 valued at $664,000 after buying an additional 68,200 shares during the period. Institutional investors own 18.88% of the company’s stock.

Digital Turbine Company Profile

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.

5 Day Chart for NASDAQ:APPS

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