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

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

Separately, Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $1.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.38.

Digital Turbine Stock Performance

NASDAQ APPS opened at $3.18 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $6.86. The business’s 50-day moving average price is $3.23 and its 200 day moving average price is $2.71. The firm has a market cap of $333.92 million, a P/E ratio of -1.05 and a beta of 2.43.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 earnings per share 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 research analysts expect that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently modified their holdings of APPS. Marshall Wace LLP acquired a new stake in shares of Digital Turbine during the 4th quarter valued at approximately $1,698,000. Bank of America Corp DE lifted its position in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after acquiring an additional 724,297 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after acquiring an additional 340,512 shares during the period. Two Sigma Investments LP lifted its position in shares of Digital Turbine by 19.1% during the 4th 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 during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Digital Turbine during the 4th quarter valued at approximately $490,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.