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

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPSGet Rating) from a sell rating to a hold rating in a research note released on Tuesday morning.

Several other brokerages have also issued reports on APPS. Craig Hallum decreased their target price on Digital Turbine from $60.00 to $30.00 in a research report on Thursday, November 10th. Oppenheimer dropped their price target on Digital Turbine from $32.00 to $19.00 and set an outperform rating for the company in a research report on Tuesday, October 4th. B. Riley decreased their price objective on Digital Turbine from $33.00 to $28.00 and set a buy rating on the stock in a report on Wednesday, October 5th. Bank of America began coverage on Digital Turbine in a report on Monday, October 17th. They set a buy rating and a $24.00 price objective on the stock. Finally, Roth Capital cut their price objective on Digital Turbine from $32.00 to $20.00 in a research report on Monday, October 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Digital Turbine presently has an average rating of Moderate Buy and an average target price of $26.83.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $17.27 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Digital Turbine has a twelve month low of $10.65 and a twelve month high of $70.52. The stock’s 50 day moving average is $15.12 and its 200-day moving average is $18.49. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.03 and a beta of 2.34.

Institutional Investors Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its holdings in Digital Turbine by 1.8% during the 1st quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock worth $1,199,000 after purchasing an additional 495 shares during the period. Yousif Capital Management LLC boosted its position in shares of Digital Turbine by 1.4% in the 1st quarter. Yousif Capital Management LLC now owns 46,436 shares of the software maker’s stock worth $2,034,000 after purchasing an additional 630 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Digital Turbine by 1.2% in the 3rd quarter. Royal Bank of Canada now owns 56,945 shares of the software maker’s stock worth $820,000 after purchasing an additional 674 shares in the last quarter. Cetera Investment Advisers lifted its position in Digital Turbine by 5.5% during the 1st quarter. Cetera Investment Advisers now owns 13,123 shares of the software maker’s stock worth $575,000 after acquiring an additional 687 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Digital Turbine during the 1st quarter worth about $31,000. 65.70% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Turbine

(Get Rating)

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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.

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