Digital Turbine Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “
Other equities analysts have also recently issued reports about the stock. Ladenburg Thalmann raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $1.26 to $2.35 in a research report on Wednesday, August 31st. B. Riley reaffirmed a “buy” rating and set a $1.70 price objective on shares of Digital Turbine in a research report on Monday, August 15th. Craig Hallum cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday. Roth Capital cut shares of Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Monday, September 26th. Finally, Leerink Swann cut shares of Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price objective for the company. in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.77.
Shares of Digital Turbine (NASDAQ:APPS) opened at 0.8549 on Tuesday. Digital Turbine has a 12-month low of $0.73 and a 12-month high of $1.97. The company’s market cap is $56.97 million. The stock has a 50 day moving average of $1.18 and a 200 day moving average of $1.07.
Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.03. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The firm earned $24.04 million during the quarter, compared to the consensus estimate of $23.82 million. During the same period in the prior year, the business posted ($0.22) earnings per share. Digital Turbine’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities analysts expect that Digital Turbine will post ($0.29) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Keane Capital Partners LLC purchased a new stake in Digital Turbine during the first quarter worth $1,088,000. P.A.W. Capital Corp increased its stake in Digital Turbine by 28.9% in the second quarter. P.A.W. Capital Corp now owns 980,000 shares of the company’s stock worth $1,049,000 after buying an additional 220,000 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Digital Turbine during the second quarter worth $225,000. State Street Corp increased its stake in Digital Turbine by 29.2% in the first quarter. State Street Corp now owns 506,334 shares of the company’s stock worth $605,000 after buying an additional 114,424 shares in the last quarter. Finally, S Squared Technology LLC increased its stake in Digital Turbine by 9.3% in the second quarter. S Squared Technology LLC now owns 1,332,320 shares of the company’s stock worth $1,426,000 after buying an additional 113,300 shares in the last quarter. 18.88% of the stock is owned by institutional investors.
About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.