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

Key Points

• Wall Street Zen downgraded Digital Turbine from “strong buy” to “buy,” while broader analyst sentiment remains “Moderate Buy,” with six Buy, two Hold and one Sell rating and a consensus price target of $15.42.
• Digital Turbine’s latest quarterly results exceeded expectations, reporting $0.19 EPS versus $0.14 expected and revenue of $165.98 million compared with the $149.98 million consensus estimate.
• Institutional investors increased their exposure to APPS, and institutions now own 63.66% of the company’s stock; shares opened at $8.87, within a 12-month range of $2.74 to $15.34.

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

APPS has been the subject of several other research reports. Roth Capital began coverage on shares of Digital Turbine in a research note on Thursday, October 15th. They issued a "buy" rating and a $19.00 price objective for the company. TD Cowen reissued a "hold" rating on shares of Digital Turbine in a research report on Tuesday, September 29th. Zacks Research lowered Digital Turbine from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Northland Securities began coverage on Digital Turbine in a report on Thursday. They set an "outperform" rating and a $17.00 target price on the stock. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $18.00 price target on shares of Digital Turbine in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.42.

Digital Turbine Price Performance

Shares of APPS opened at $8.87 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $1.07 billion, a PE ratio of 18.88, a PEG ratio of 0.50 and a beta of 3.02. The firm's 50 day moving average price is $10.74 and its 200 day moving average price is $7.54. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $15.34.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. The company had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. As a group, research analysts expect that Digital Turbine will post 0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APPS. Dimensional Fund Advisors LP increased its stake in shares of Digital Turbine by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker's stock worth $6,778,000 after purchasing an additional 846,116 shares during the period. GC Wealth Management RIA LLC lifted its position in shares of Digital Turbine by 41.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock worth $1,660,000 after purchasing an additional 170,134 shares during the last quarter. Granahan Investment Management LLC lifted its position in shares of Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock worth $20,484,000 after purchasing an additional 762,888 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Digital Turbine during the 1st quarter worth about $1,227,000. Finally, AIGH Capital Management LLC bought a new stake in Digital Turbine during the 1st quarter valued at approximately $14,100,000. Institutional investors 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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