Digital Turbine (NASDAQ:APPS) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a sell rating in a report published on Thursday.

Several other research firms also recently commented on APPS. Craig Hallum dropped their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Trading Down 11.7 %

NASDAQ APPS opened at $3.16 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine has a twelve month low of $1.18 and a twelve month high of $6.86. The firm has a market capitalization of $331.82 million, a PE ratio of -1.04 and a beta of 2.38. The stock’s 50 day moving average is $3.11 and its 200 day moving average is $2.74.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. Research analysts forecast that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP raised its stake in shares of Digital Turbine by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock worth $2,775,000 after purchasing an additional 7,100 shares during the last quarter. Two Sigma Investments LP increased its position in Digital Turbine by 19.1% during the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 337,959 shares during the last quarter. ProShare Advisors LLC increased its position in Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock valued at $46,000 after acquiring an additional 8,892 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Digital Turbine by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker’s stock valued at $93,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Digital Turbine during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

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 two segments, On Device Solutions and App Growth Platform. 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 media content delivery services, and sponsored and editorial content media.