Zacks Research Downgrades Digital Turbine (NASDAQ:APPS) to Hold

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

A number of other research analysts also recently commented on APPS. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.75.

Digital Turbine Trading Up 3.2%

Shares of APPS stock opened at $5.10 on Monday. The stock has a market cap of $571.97 million, a P/E ratio of -6.99, a price-to-earnings-growth ratio of 1.46 and a beta of 2.24. Digital Turbine has a 1 year low of $1.65 and a 1 year high of $8.28. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. The stock has a 50 day simple moving average of $5.21 and a 200 day simple moving average of $5.30.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APPS. Harbor Capital Advisors Inc. acquired a new position in Digital Turbine during the 2nd quarter worth approximately $12,031,000. Goldman Sachs Group Inc. grew its stake in shares of Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after buying an additional 437,310 shares during the last quarter. Versor Investments LP acquired a new position in shares of Digital Turbine during the second quarter worth $333,000. XTX Topco Ltd lifted its stake in shares of Digital Turbine by 91.7% in the 2nd quarter. XTX Topco Ltd now owns 203,936 shares of the software maker’s stock valued at $1,203,000 after acquiring an additional 97,567 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Digital Turbine by 179.9% in 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 acquiring an additional 2,033,216 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

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.