Wall Street Zen Downgrades Digital Turbine (NASDAQ:APPS) to Hold

Key Points

• Digital Turbine's stock rating was downgraded from "buy" to "hold" by Wall Street Zen.
• Despite the downgrade, Craig Hallum increased their price target for Digital Turbine from $7.00 to $8.00 while maintaining a "buy" rating.
• The company reported revenue of $130.93 million for the last quarter, exceeding analyst estimates of $121.94 million, but missed earnings expectations with $0.05 EPS against a consensus of $0.10.

Digital Turbine (NASDAQ:APPS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other analysts have also weighed in on the stock. Bank of America upgraded shares of Digital Turbine from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $4.50 to $5.50 in a research note on Wednesday, August 6th. Craig Hallum raised their price objective on shares of Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th.

Digital Turbine Price Performance

Shares of NASDAQ:APPS traded down $0.03 during trading on Friday, reaching $4.25. The company had a trading volume of 948,857 shares, compared to its average volume of 5,924,712. The company has a fifty day moving average of $5.38 and a two-hundred day moving average of $4.23. The stock has a market capitalization of $460.16 million, a P/E ratio of -5.50, a price-to-earnings-growth ratio of 2.74 and a beta of 2.57. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $7.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. The business had revenue of $130.93 million during the quarter, compared to analysts' expectations of $121.94 million. Equities research analysts forecast that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APPS. Strs Ohio bought a new position in Digital Turbine during the 1st quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Digital Turbine during the first quarter valued at about $45,000. Cetera Investment Advisers lifted its position in shares of Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after buying an additional 13,317 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after buying an additional 8,892 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Digital Turbine during the first quarter valued at about $47,000. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

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.