Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

Digital Turbine (NASDAQ:APPS) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Separately, Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Stock Up 5.3 %

Shares of NASDAQ:APPS opened at $3.35 on Friday. The stock’s 50-day moving average price is $3.29 and its 200-day moving average price is $2.70. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $6.86. The stock has a market capitalization of $351.77 million, a P/E ratio of -1.11 and a beta of 2.43. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Trading of Digital Turbine

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Digital Turbine by 719.6% in the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after buying an additional 340,512 shares during the period. Acuitas Investments LLC purchased a new stake in Digital Turbine in the fourth quarter worth about $140,000. Geode Capital Management LLC lifted its holdings in Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after buying an additional 181,032 shares during the period. Barclays PLC lifted its holdings in Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after buying an additional 97,196 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Digital Turbine in the third quarter worth about $185,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.