Digital Turbine (NASDAQ:APPS) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Digital Turbine (NASDAQ: APPS) from “strong buy” to “buy.”
• Analyst sentiment overall remains positive: MarketBeat reports an average “Moderate Buy” rating and a consensus price target of $15.42, with six Buy, two Hold, and one Sell rating.
• Digital Turbine shares were reported up 7.3%; the stock opened at $10.38 on Friday.

Digital Turbine (NASDAQ:APPS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Sunday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the stock. Northland Securities assumed coverage on shares of Digital Turbine in a research report on Thursday, October 29th. They set an "outperform" rating and a $17.00 price objective for the company. Roth Capital initiated coverage on shares of Digital Turbine in a report on Thursday, October 15th. They issued a "buy" rating and a $19.00 target price on the stock. Zacks Research lowered shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Royal Bank Of Canada started coverage on shares of Digital Turbine in a research report on Thursday, October 1st. They issued an "outperform" rating and a $15.00 target price for the company. Finally, Benchmark upped their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Digital Turbine presently has an average rating of "Moderate Buy" and an average target price of $15.42.

Digital Turbine Trading Up 7.3%

APPS stock opened at $10.38 on Friday. The company has a market cap of $1.26 billion, a P/E ratio of -39.92, a PEG ratio of 0.53 and a beta of 3.01. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The business has a fifty day moving average of $10.59 and a 200-day moving average of $7.65. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $15.34.

Hedge Funds Weigh In On Digital Turbine

Institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new position in Digital Turbine in the third quarter valued at about $299,000. Aberdeen Group plc bought a new stake in shares of Digital Turbine during the 3rd quarter valued at approximately $3,955,000. Pictet Asset Management Holding SA bought a new stake in shares of Digital Turbine during the 3rd quarter valued at approximately $234,000. CenterBook Partners LP acquired a new position in Digital Turbine during the 3rd quarter worth approximately $1,358,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Digital Turbine during the 3rd quarter worth approximately $264,000. 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 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.

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