Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

Digital Turbine (NASDAQ:APPS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.38.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $3.35 on Friday. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $6.86. The company has a 50 day simple moving average of $3.29 and a two-hundred day simple moving average of $2.70. The company has a market capitalization of $351.77 million, a price-to-earnings ratio of -1.11 and a beta of 2.43. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. Analysts expect that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP increased its position in shares of Digital Turbine by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock valued at $2,775,000 after acquiring an additional 7,100 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Digital Turbine by 19.1% during the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 337,959 shares in the last quarter. ProShare Advisors LLC increased 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 acquiring an additional 8,892 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Digital Turbine by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker’s stock valued at $93,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Digital Turbine in the 4th quarter worth approximately $54,000. 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.