Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by Wall Street Zen

Digital Turbine (NASDAQ:APPS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Craig Hallum lifted their target price on Digital Turbine from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday.

Digital Turbine Trading Down 14.5%

Digital Turbine stock opened at $5.76 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.06 and a current ratio of 1.09. The business’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $3.31. The firm has a market capitalization of $616.20 million, a PE ratio of -6.47 and a beta of 2.58. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $7.77.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The business had revenue of $119.15 million for the quarter, compared to the consensus estimate of $116.64 million. During the same period last year, the business earned $0.12 earnings per share. Equities research analysts forecast that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 2,356 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Digital Turbine by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock valued at $2,775,000 after purchasing an additional 7,100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Digital Turbine by 28.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock valued at $64,000 after purchasing an additional 8,426 shares in the last quarter. ProShare Advisors LLC boosted its holdings 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 purchasing an additional 8,892 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Digital Turbine by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 170,647 shares of the software maker’s stock valued at $289,000 after purchasing an additional 8,929 shares in the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

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.