Digital Turbine (APPS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Digital Turbine (NASDAQ:APPS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

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. “

APPS has been the topic of several other reports. Roth Capital reaffirmed a buy rating on shares of Digital Turbine in a report on Monday, December 4th. ValuEngine downgraded Digital Turbine from a hold rating to a sell rating in a report on Tuesday, November 7th. Finally, B. Riley reaffirmed a buy rating and set a $2.00 target price (up from $1.40) on shares of Digital Turbine in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Digital Turbine currently has an average rating of Buy and an average target price of $1.75.

Shares of Digital Turbine (APPS) remained flat at $$1.99 on Thursday. The stock had a trading volume of 194,713 shares, compared to its average volume of 299,567. The stock has a market capitalization of $143.37, a price-to-earnings ratio of -6.63 and a beta of 1.36. Digital Turbine has a 12 month low of $0.65 and a 12 month high of $2.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $27.90 million for the quarter, compared to the consensus estimate of $26.96 million. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. equities analysts predict that Digital Turbine will post -0.18 earnings per share for the current fiscal year.

In other Digital Turbine news, CEO William Gordon Stone III acquired 50,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $1.56 per share, with a total value of $78,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Unterberg Capital LLC lifted its stake in shares of Digital Turbine by 237.5% in the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock valued at $2,039,000 after purchasing an additional 950,000 shares during the period. Perkins Capital Management Inc. lifted its stake in shares of Digital Turbine by 5.5% in the 3rd quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock valued at $1,376,000 after purchasing an additional 47,500 shares during the period. P.A.W. Capital Corp lifted its stake in shares of Digital Turbine by 5.0% in the 3rd quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock valued at $1,268,000 after purchasing an additional 40,000 shares during the period. Trellus Management Company LLC lifted its stake in shares of Digital Turbine by 16.8% in the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock valued at $1,058,000 after purchasing an additional 100,689 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Digital Turbine in the 3rd quarter valued at about $665,000. 20.78% of the stock is currently owned by institutional investors.

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Digital Turbine Company Profile

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.

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