Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

Digital Turbine (NASDAQ:APPS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

APPS has been the topic of several other reports. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Craig Hallum decreased their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Price Performance

NASDAQ:APPS opened at $6.52 on Wednesday. The stock’s 50-day simple moving average is $2.26 and its 200 day simple moving average is $2.55. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $6.86. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.09 and a current ratio of 1.06. The company has a market cap of $684.67 million, a P/E ratio of -2.15 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. As a group, sell-side analysts forecast that Digital Turbine will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after acquiring an additional 340,512 shares in the last quarter. Geode Capital Management LLC increased its position in Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after purchasing an additional 181,032 shares in the last quarter. Barclays PLC boosted its position in Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock valued at $776,000 after buying an additional 97,196 shares in the last quarter. SG Americas Securities LLC boosted its position in Digital Turbine by 80.9% in the third quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock valued at $154,000 after buying an additional 22,385 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Digital Turbine during the third quarter worth $185,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.