Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

Digital Turbine (NASDAQ:APPS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on APPS. Craig Hallum cut their price target on shares of Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Roth Mkm cut their target price on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Digital Turbine presently has an average rating of “Hold” and a consensus target price of $7.50.

Digital Turbine Stock Down 8.3 %

Shares of NASDAQ:APPS opened at $1.87 on Friday. Digital Turbine has a 52-week low of $1.87 and a 52-week high of $14.61. The stock has a market cap of $190.78 million, a P/E ratio of -0.95, a PEG ratio of 5.04 and a beta of 2.48. The business has a fifty day moving average of $3.05 and a two-hundred day moving average of $4.77. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. The firm had revenue of $142.63 million during the quarter, compared to analysts’ expectations of $146.45 million. On average, research analysts expect that Digital Turbine will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in APPS. Vanguard Group Inc. raised its position in Digital Turbine by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,790,615 shares of the software maker’s stock valued at $87,744,000 after purchasing an additional 543,160 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at $34,000. GSA Capital Partners LLP purchased a new stake in shares of Digital Turbine in the 4th quarter valued at $826,000. Barclays PLC lifted its stake in Digital Turbine by 210.7% during the 4th quarter. Barclays PLC now owns 308,032 shares of the software maker’s stock worth $2,113,000 after acquiring an additional 208,880 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Digital Turbine by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 267,788 shares of the software maker’s stock valued at $1,837,000 after acquiring an additional 2,940 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Digital Turbine

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.