Digital Turbine (NASDAQ:APPS) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Wednesday, October 8th. Bank of America raised shares of Digital Turbine from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.50 to $5.50 in a research note on Wednesday, August 6th. Finally, Craig Hallum reissued a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Digital Turbine has an average rating of “Moderate Buy” and an average price target of $7.75.

Digital Turbine Price Performance

Shares of APPS stock traded down $0.27 during trading hours on Thursday, reaching $5.99. The stock had a trading volume of 4,670,031 shares, compared to its average volume of 4,244,603. The stock’s fifty day simple moving average is $5.83 and its 200 day simple moving average is $5.12. The firm has a market capitalization of $671.78 million, a PE ratio of -8.21, a PEG ratio of 1.84 and a beta of 2.55. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $8.28. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $140.38 million for the quarter, compared to analysts’ expectations of $142.00 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. On average, equities research analysts predict that Digital Turbine will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently made changes to their positions in APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after purchasing an additional 2,449 shares during the period. Legal & General Group Plc increased its holdings in shares of Digital Turbine by 31.6% in the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after buying an additional 2,550 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Digital Turbine by 22.5% in the 2nd quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock valued at $107,000 after acquiring an additional 3,322 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Digital Turbine during the 3rd quarter valued at about $31,000. Finally, Creative Planning grew its position in Digital Turbine by 39.2% during the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after acquiring an additional 5,991 shares during the last quarter. 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.