Zacks Investment Research downgraded shares of Digital Turbine (NASDAQ:APPS) from a buy rating to a hold rating in a research note issued to investors on Thursday.

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. “

A number of other analysts have also commented on APPS. ValuEngine raised Digital Turbine from a sell rating to a hold rating in a research report on Tuesday, October 31st. Roth Capital reaffirmed a buy rating on shares of Digital Turbine in a research report on Monday, December 4th. Finally, B. Riley reaffirmed a buy rating and issued a $2.00 target price (up from $1.40) on shares of Digital Turbine in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $1.75.

Shares of Digital Turbine (NASDAQ APPS) remained flat at $$1.99 during trading on Thursday. 194,713 shares of the stock were exchanged, compared to its average volume of 299,567. Digital Turbine has a 12-month low of $0.65 and a 12-month high of $2.07. The firm has a market capitalization of $143.37, a P/E ratio of -6.63 and a beta of 1.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.19.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The business had revenue of $27.90 million during the quarter, compared to analyst estimates of $26.96 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue was up 22.4% compared to the same quarter last year. research analysts forecast that Digital Turbine will post -0.18 EPS for the current year.

In related news, CEO William Gordon Stone III acquired 50,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $1.56 per share, with a total value of $78,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of APPS. Thompson Davis & CO. Inc. bought a new stake in Digital Turbine during the 3rd quarter worth approximately $101,000. Granahan Investment Management Inc. MA bought a new stake in Digital Turbine during the 3rd quarter worth approximately $350,000. EAM Investors LLC bought a new stake in Digital Turbine during the 3rd quarter worth approximately $465,000. Essex Investment Management Co. LLC bought a new stake in Digital Turbine during the 3rd quarter worth approximately $665,000. Finally, Trellus Management Company LLC increased its holdings in Digital Turbine by 16.8% during the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after purchasing an additional 100,689 shares in the last quarter. 20.78% of the stock is owned by hedge funds and other institutional investors.

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About Digital Turbine

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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