Zacks Research Downgrades Digital Turbine (NASDAQ:APPS) to Hold

Key Points

• Zacks Research downgraded Digital Turbine from “strong buy” to “hold,” although the broader analyst consensus remains “moderate buy” with an $11.00 price target.
• Digital Turbine reported quarterly EPS of $0.16, exceeding the $0.09 consensus estimate, while revenue of $142.55 million also surpassed expectations.
• The stock opened at $8.46, compared with a 52-week range of $2.74 to $13.60; institutional investors own approximately 63.66% of the company.

Digital Turbine (NASDAQ:APPS - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on APPS. Wall Street Zen upgraded shares of Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Weiss Ratings cut shares of Digital Turbine from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 5th. Roth Capital assumed coverage on shares of Digital Turbine in a report on Tuesday, July 21st. They issued a "buy" rating and a $11.50 price target for the company. Bank of America upgraded Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price target for the company in a research report on Wednesday, May 27th. Finally, Benchmark initiated coverage on Digital Turbine in a research note on Tuesday, July 21st. They set a "buy" rating and a $15.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Digital Turbine Stock Performance

NASDAQ APPS opened at $8.46 on Monday. The stock has a market capitalization of $1.02 billion, a PE ratio of -23.50, a P/E/G ratio of 0.67 and a beta of 2.75. The business has a 50 day simple moving average of $9.21 and a two-hundred day simple moving average of $5.84. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.16 and a quick ratio of 1.16. Digital Turbine has a 1-year low of $2.74 and a 1-year high of $13.60.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The business had revenue of $142.55 million for the quarter, compared to analysts' expectations of $133.22 million. On average, research analysts predict that Digital Turbine will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

A number of large investors have recently bought and sold shares of APPS. CoreCap Advisors LLC purchased a new stake in Digital Turbine in the second quarter worth $674,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Digital Turbine during the first quarter valued at $1,283,000. Verus Capital Partners LLC bought a new position in shares of Digital Turbine in the first quarter worth about $35,000. Essential Partners LLC grew its holdings in shares of Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker's stock worth $26,000 after purchasing an additional 5,652 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Digital Turbine by 17.4% in the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker's stock worth $10,423,000 after buying an additional 535,169 shares during the period. Hedge funds and other institutional investors own 63.66% of the company's stock.

Digital Turbine Company Profile

Digital Turbine, Inc NASDAQ: APPS is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company's flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.

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