Wall Street Zen Upgrades Digital Turbine (NASDAQ:APPS) to "Buy"

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

Separately, Craig Hallum boosted their price target on shares of Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Tuesday.

Digital Turbine Stock Down 14.5%

APPS stock traded down $0.98 during trading on Friday, reaching $5.76. The stock had a trading volume of 13,004,193 shares, compared to its average volume of 4,923,665. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $616.20 million, a price-to-earnings ratio of -6.47 and a beta of 2.58. Digital Turbine has a one year low of $1.18 and a one year high of $7.77. The company's 50 day moving average is $4.26 and its two-hundred day moving average is $3.32.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $119.15 million during the quarter, compared to analyst estimates of $116.64 million. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. During the same period in the prior year, the company posted $0.12 earnings per share. Equities research analysts forecast that Digital Turbine will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently bought and sold shares of the company. DLD Asset Management LP purchased a new stake in Digital Turbine in the first quarter worth $272,000. Strs Ohio bought a new position in shares of Digital Turbine during the 1st quarter worth $41,000. S Squared Technology LLC increased its holdings in Digital Turbine by 241.2% in the 1st quarter. S Squared Technology LLC now owns 730,326 shares of the software maker's stock worth $1,983,000 after acquiring an additional 516,266 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Digital Turbine by 74.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker's stock valued at $2,774,000 after acquiring an additional 437,310 shares during the period. Finally, Tenzing Global Management LLC bought a new stake in Digital Turbine in the 1st quarter valued at about $950,000. Hedge funds and other institutional investors own 63.66% of the company's stock.

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.