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

Digital Turbine (NASDAQ:APPS) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other brokerages also recently weighed in on APPS. Bank of America downgraded 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 report on Friday, November 15th. Craig Hallum cut their price target on 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, Macquarie cut their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.38.

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $2.94 on Thursday. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s fifty day moving average price is $3.14 and its two-hundred day moving average price is $2.74. Digital Turbine has a one year low of $1.18 and a one year high of $6.86. The firm has a market cap of $308.72 million, a price-to-earnings ratio of -0.97 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast that Digital Turbine will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in the business. Two Sigma Advisers LP increased its holdings in Digital Turbine by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock worth $2,775,000 after purchasing an additional 7,100 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Digital Turbine by 19.1% during the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 337,959 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock valued at $46,000 after acquiring an additional 8,892 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Digital Turbine by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker’s stock valued at $93,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $54,000. 63.66% of the stock is currently owned by institutional investors.

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.