Digital Turbine (NASDAQ:APPS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a sell rating in a report issued on Monday, February 12th.

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 research reports. ValuEngine downgraded shares of Digital Turbine from a hold rating to a sell rating in a research report on Friday, February 2nd. B. Riley boosted their price objective on Digital Turbine from $2.50 to $2.80 and gave the stock a buy rating in a report on Thursday, February 8th. Finally, Roth Capital reissued a buy rating on shares of Digital Turbine in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Digital Turbine has an average rating of Buy and an average target price of $1.91.

Digital Turbine (NASDAQ:APPS) traded down $0.15 during trading hours on Monday, hitting $2.26. 7,225,000 shares of the stock were exchanged, compared to its average volume of 1,113,068. Digital Turbine has a 12 month low of $0.77 and a 12 month high of $2.56. The company has a market capitalization of $181.10, a price-to-earnings ratio of -7.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.03). Digital Turbine had a negative return on equity of 22.65% and a negative net margin of 18.66%. The business had revenue of $38.03 million for the quarter, compared to analyst estimates of $31.09 million. research analysts expect that Digital Turbine will post -0.22 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in APPS. Unterberg Capital LLC boosted its position in Digital Turbine by 237.5% during the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock worth $2,039,000 after acquiring an additional 950,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Digital Turbine in the 3rd quarter valued at approximately $665,000. EAM Investors LLC acquired a new stake in shares of Digital Turbine in the 3rd quarter valued at approximately $465,000. Granahan Investment Management Inc. MA acquired a new stake in shares of Digital Turbine in the 3rd quarter valued at approximately $350,000. Finally, Millennium Management LLC boosted its holdings in shares of Digital Turbine by 178.3% in the 4th quarter. Millennium Management LLC now owns 311,196 shares of the software maker’s stock valued at $557,000 after buying an additional 199,392 shares during the last quarter. 19.42% of the stock is owned by hedge funds and other 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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