Digital Turbine (NASDAQ:APPS) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Digital Turbine (NASDAQ:APPS) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 29th. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Craig Hallum reissued a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Digital Turbine currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Digital Turbine Price Performance

APPS stock opened at $4.99 on Friday. The stock’s 50 day moving average is $4.99 and its two-hundred day moving average is $5.27. Digital Turbine has a 52-week low of $1.96 and a 52-week high of $8.28. The company has a market capitalization of $559.63 million, a PE ratio of -6.84, a P/E/G ratio of 1.47 and a beta of 2.24. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $140.38 million during the quarter, compared to the consensus estimate of $142.00 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. Analysts predict that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Digital Turbine by 0.4% during the third quarter. Vanguard Group Inc. now owns 9,072,239 shares of the software maker’s stock worth $58,062,000 after acquiring an additional 33,944 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of Digital Turbine by 77.2% during the 3rd quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock worth $36,569,000 after purchasing an additional 2,489,376 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Digital Turbine by 179.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker’s stock valued at $18,662,000 after purchasing an additional 2,033,216 shares during the last quarter. Bank of America Corp DE boosted its position in Digital Turbine by 20.6% in the third quarter. Bank of America Corp DE now owns 2,687,381 shares of the software maker’s stock valued at $17,199,000 after buying an additional 459,605 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Digital Turbine by 2.1% during the second quarter. Geode Capital Management LLC now owns 2,378,047 shares of the software maker’s stock worth $14,033,000 after buying an additional 47,812 shares during the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.