Zacks Investment Research upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a buy rating in a research report released on Tuesday morning. They currently have $1.50 target price on the software maker’s stock.

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. “

Separately, ValuEngine raised shares of Digital Turbine from a hold rating to a buy rating in a report on Wednesday, May 2nd.

Shares of APPS stock traded down $0.01 during mid-day trading on Tuesday, reaching $1.46. 4,992 shares of the company’s stock traded hands, compared to its average volume of 321,482. Digital Turbine has a 12 month low of $1.04 and a 12 month high of $2.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $119.93 million, a price-to-earnings ratio of -16.33 and a beta of 1.58.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, June 12th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Digital Turbine had a negative net margin of 46.78% and a negative return on equity of 15.32%. The firm had revenue of $20.96 million during the quarter, compared to the consensus estimate of $20.26 million. equities research analysts expect that Digital Turbine will post -0.03 EPS for the current year.

In other news, CEO William Gordon Stone III bought 70,000 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was bought at an average price of $1.56 per share, with a total value of $109,200.00. Following the acquisition, the chief executive officer now owns 1,009,480 shares of the company’s stock, valued at approximately $1,574,788.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of APPS. Renaissance Technologies LLC boosted its holdings in Digital Turbine by 20.9% in the 4th quarter. Renaissance Technologies LLC now owns 945,874 shares of the software maker’s stock worth $1,693,000 after buying an additional 163,700 shares during the period. Deutsche Bank AG lifted its stake in Digital Turbine by 17.4% in the 4th quarter. Deutsche Bank AG now owns 447,591 shares of the software maker’s stock worth $801,000 after purchasing an additional 66,242 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Digital Turbine by 239.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 69,500 shares of the software maker’s stock worth $124,000 after purchasing an additional 49,049 shares in the last quarter. Millennium Management LLC lifted its stake in Digital Turbine by 178.3% in the 4th quarter. Millennium Management LLC now owns 311,196 shares of the software maker’s stock worth $557,000 after purchasing an additional 199,392 shares in the last quarter. Finally, Trellus Management Company LLC lifted its stake in Digital Turbine by 14.3% in the 1st quarter. Trellus Management Company LLC now owns 800,689 shares of the software maker’s stock worth $1,609,000 after purchasing an additional 100,000 shares in the last quarter. 32.72% of the stock is owned by institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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