Digital Turbine (NASDAQ:APPS) Rating Lowered to Hold at Zacks Research

Digital Turbine (NASDAQ:APPS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

Digital Turbine Trading Up 3.8%

Shares of Digital Turbine stock traded up $0.12 during trading hours on Monday, hitting $3.14. The company’s stock had a trading volume of 660,887 shares, compared to its average volume of 2,847,278. Digital Turbine has a 12 month low of $2.13 and a 12 month high of $8.28. The stock has a 50 day moving average of $3.87 and a 200 day moving average of $4.95. The company has a market capitalization of $375.89 million, a PE ratio of -6.53, a price-to-earnings-growth ratio of 0.11 and a beta of 2.33. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, February 3rd. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%.The company had revenue of $151.40 million during the quarter, compared to the consensus estimate of $145.72 million. Analysts predict that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP boosted its position in shares of Digital Turbine by 1,323.4% during the fourth quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after buying an additional 5,201 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Digital Turbine during the third quarter worth about $31,000. Strs Ohio acquired a new position in shares of Digital Turbine during the first quarter worth about $41,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Digital Turbine during the fourth quarter worth about $44,000. Finally, PFG Investments LLC acquired a new position in shares of Digital Turbine during the fourth quarter worth about $50,000. 63.66% of the stock is owned by institutional investors and hedge funds.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.