Digital Turbine (NASDAQ:APPS) Upgraded at StockNews.com

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a research note released on Saturday.

APPS has been the subject of several other reports. Craig Hallum dropped their price objective on Digital Turbine from $12.00 to $10.00 and set a buy rating for the company in a report on Thursday, February 8th. Roth Mkm dropped their price objective on Digital Turbine from $5.50 to $4.50 and set a neutral rating for the company in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $7.50.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $1.87 on Friday. The firm’s 50-day simple moving average is $2.99 and its 200 day simple moving average is $4.72. The company has a market cap of $190.78 million, a price-to-earnings ratio of -0.95, a price-to-earnings-growth ratio of 4.60 and a beta of 2.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. Digital Turbine has a 12-month low of $1.78 and a 12-month high of $14.61.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $142.63 million for the quarter, compared to analyst estimates of $146.45 million. Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. On average, research analysts expect that Digital Turbine will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

A number of institutional investors and hedge funds have recently modified their holdings of APPS. Greenhaven Road Investment Management L.P. boosted its position in Digital Turbine by 244.9% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,940,020 shares of the software maker’s stock worth $13,308,000 after acquiring an additional 1,377,587 shares during the last quarter. Norges Bank acquired a new position in Digital Turbine during the 4th quarter worth approximately $13,125,000. Vanguard Group Inc. boosted its position in Digital Turbine by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock worth $153,461,000 after acquiring an additional 843,856 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Digital Turbine by 178.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 921,215 shares of the software maker’s stock worth $11,385,000 after acquiring an additional 589,981 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Digital Turbine during the 3rd quarter worth approximately $3,557,000. 63.66% of the stock is owned by institutional investors.

About Digital Turbine

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.