Digital Turbine (NASDAQ:APPS) Stock Rating Lowered by Zacks Research

Digital Turbine (NASDAQ:APPS) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on APPS. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.75.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $3.02 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $362.10 million, a PE ratio of -6.29, a P/E/G ratio of 0.11 and a beta of 2.33. The business has a 50-day simple moving average of $3.87 and a two-hundred day simple moving average of $4.95. Digital Turbine has a fifty-two week low of $2.12 and a fifty-two week high of $8.28.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, February 3rd. The software maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $145.72 million. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%. As a group, equities analysts expect that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Digital Turbine by 642.7% during the third quarter. Citigroup Inc. now owns 316,825 shares of the software maker’s stock worth $2,028,000 after purchasing an additional 274,169 shares during the period. AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine during the third quarter worth about $9,748,000. G2 Investment Partners Management LLC acquired a new stake in shares of Digital Turbine during the second quarter worth about $8,341,000. Granahan Investment Management LLC lifted its holdings in shares of Digital Turbine by 77.2% during the third 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 during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Digital Turbine by 776.1% during the third quarter. SG Americas Securities LLC now owns 182,673 shares of the software maker’s stock worth $1,169,000 after purchasing an additional 161,823 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.