Digital Turbine (NASDAQ:APPS) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS - Free Report) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other equities research analysts have also recently commented on the company. Craig Hallum decreased their target price on Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Macquarie dropped their target price on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Finally, Bank of America lowered Digital Turbine from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.38.

Digital Turbine Trading Down 5.1 %

Shares of NASDAQ:APPS traded down $0.33 during trading on Wednesday, reaching $6.19. 5,821,648 shares of the company traded hands, compared to its average volume of 8,750,329. The company's 50 day moving average is $2.46 and its two-hundred day moving average is $2.61. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.09 and a current ratio of 1.06. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $6.86.

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

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in APPS. JPMorgan Chase & Co. boosted its stake in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock valued at $1,191,000 after buying an additional 340,512 shares during the period. Geode Capital Management LLC lifted its stake in Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after purchasing an additional 181,032 shares during the last quarter. Barclays PLC lifted its stake in Digital Turbine by 62.5% during the third quarter. Barclays PLC now owns 252,673 shares of the software maker's stock worth $776,000 after purchasing an additional 97,196 shares during the last quarter. SG Americas Securities LLC lifted its stake in Digital Turbine by 80.9% during the third quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker's stock worth $154,000 after purchasing an additional 22,385 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in Digital Turbine during 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.