Zacks Investment Research cut shares of Digiliti Money (NASDAQ:DGLT) from a hold rating to a sell rating in a research note published on Friday.

According to Zacks, “Digiliti Money Group, Inc. is a technology solutions and services provider to the financial services industry. The company operates as a cloud-based software-as-a-service provider of remote deposit capture and mobile wallet solutions for customers of banks, credit unions, prepaid card programs, check cashing services and payday lenders. Its solutions and services enable banks, credit unions and alternative financial services providers to offer their customers remote deposit capture and prepaid mobile money technologies and related services. Digiliti Money Group, Inc., formerly known as Cachet Financial Solutions, Inc., is headquartered in Minneapolis. “

Separately, Lake Street Capital assumed coverage on shares of Digiliti Money in a report on Tuesday, May 30th. They set a buy rating and a $6.00 target price on the stock.

Digiliti Money (NASDAQ DGLT) traded down 13.40% during midday trading on Friday, reaching $0.64. 813,159 shares of the company traded hands. The stock’s market capitalization is $6.32 million. The company has a 50 day moving average price of $2.92 and a 200-day moving average price of $3.71. Digiliti Money has a one year low of $0.60 and a one year high of $13.27.

Digiliti Money (NASDAQ:DGLT) last issued its earnings results on Thursday, May 11th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.71. The business had revenue of $2.52 million for the quarter. Analysts forecast that Digiliti Money will post ($0.63) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/07/digiliti-money-nasdaqdglt-stock-rating-lowered-by-zacks-investment-research.html.

About Digiliti Money

Digiliti Money Group, Inc, formerly Digiliti Money, Inc, is a technology solutions and services provider to the financial services industry. The Company’s solutions and services enable its clients, such as banks, credit unions and alternative financial services providers (AFS) to offer their customers remote deposit capture (RDC) and prepaid mobile money technologies and related services.

Get a free copy of the Zacks research report on Digiliti Money (DGLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Digiliti Money Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digiliti Money and related companies with MarketBeat.com's FREE daily email newsletter.