Digital Turbine (NASDAQ:APPS) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Digital Turbine (NASDAQ:APPS) from a strong-buy rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Northland Securities started coverage on Digital Turbine in a research note on Thursday, October 29th. They set an “outperform” rating and a $17.00 price objective on the stock. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Craig Hallum restated a “buy” rating and issued a $18.00 target price on shares of Digital Turbine in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada initiated coverage on shares of Digital Turbine in a research report on Thursday, October 1st. They set an “outperform” rating and a $15.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.42.

Digital Turbine Stock Down 4.6%

APPS stock opened at $8.46 on Friday. Digital Turbine has a fifty-two week low of $2.74 and a fifty-two week high of $15.34. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.47 and a beta of 3.02. The business’s fifty day moving average price is $10.69 and its two-hundred day moving average price is $7.56.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, equities analysts anticipate that Digital Turbine will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new stake in shares of Digital Turbine during the 3rd quarter valued at approximately $25,000. Essential Partners LLC increased its position in Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock worth $26,000 after purchasing an additional 5,652 shares in the last quarter. Verus Capital Partners LLC acquired a new position in Digital Turbine during the 1st quarter worth approximately $35,000. Y Intercept Hong Kong Ltd bought a new position in Digital Turbine in the 1st quarter valued at approximately $44,000. Finally, State of Wyoming bought a new position in Digital Turbine in the 1st quarter valued at approximately $50,000. Institutional investors own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.