Digital Turbine, Inc. (APPS) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Digital Turbine, Inc. (NASDAQ:APPS) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

A number of other research firms have also commented on APPS. B. Riley restated a buy rating and set a $1.40 price objective on shares of Digital Turbine in a research note on Tuesday, August 8th. ValuEngine upgraded Digital Turbine from a strong sell rating to a sell rating in a research note on Tuesday, August 1st. Roth Capital set a $1.00 price objective on Digital Turbine and gave the stock a buy rating in a research note on Friday, July 28th. Finally, Ladenburg Thalmann Financial Services raised their price objective on Digital Turbine from $1.25 to $2.00 and gave the stock a buy rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Digital Turbine presently has a consensus rating of Buy and a consensus target price of $1.43.

Shares of Digital Turbine (NASDAQ:APPS) opened at 1.60 on Tuesday. The company has a 50-day moving average price of $1.34 and a 200 day moving average price of $1.13. The firm’s market cap is $106.57 million. Digital Turbine has a 52 week low of $0.56 and a 52 week high of $1.62.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. The firm had revenue of $26.10 million for the quarter, compared to analyst estimates of $24.46 million. During the same quarter last year, the company earned ($0.11) EPS. Analysts expect that Digital Turbine will post ($0.11) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Digital Turbine, Inc. (APPS) Lowered to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/11/digital-turbine-inc-apps-lowered-to-hold-at-zacks-investment-research.html.

In other Digital Turbine news, CEO William Gordon Stone III purchased 126,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $1.12 per share, for a total transaction of $141,568.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. White Pine Capital LLC increased its stake in shares of Digital Turbine by 23.2% in the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after purchasing an additional 136,800 shares during the last quarter. Trellus Management Company LLC increased its stake in shares of Digital Turbine by 16.2% in the 2nd quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after purchasing an additional 83,675 shares during the last quarter. Unterberg Capital LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at $412,000. Carleon Capital Partners LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at $2,673,000. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Digital Turbine in the 1st quarter valued at $188,000. Institutional investors own 19.20% of the company’s stock.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

A number of other research firms have also commented on APPS. B. Riley restated a buy rating and set a $1.40 price objective on shares of Digital Turbine in a research note on Tuesday, August 8th. ValuEngine upgraded Digital Turbine from a strong sell rating to a sell rating in a research note on Tuesday, August 1st. Roth Capital set a $1.00 price objective on Digital Turbine and gave the stock a buy rating in a research note on Friday, July 28th. Finally, Ladenburg Thalmann Financial Services raised their price objective on Digital Turbine from $1.25 to $2.00 and gave the stock a buy rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Digital Turbine presently has a consensus rating of Buy and a consensus target price of $1.43.

Shares of Digital Turbine (NASDAQ:APPS) opened at 1.60 on Tuesday. The company has a 50-day moving average price of $1.34 and a 200 day moving average price of $1.13. The firm’s market cap is $106.57 million. Digital Turbine has a 52 week low of $0.56 and a 52 week high of $1.62.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. The firm had revenue of $26.10 million for the quarter, compared to analyst estimates of $24.46 million. During the same quarter last year, the company earned ($0.11) EPS. Analysts expect that Digital Turbine will post ($0.11) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Digital Turbine, Inc. (APPS) Lowered to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/11/digital-turbine-inc-apps-lowered-to-hold-at-zacks-investment-research.html.

In other Digital Turbine news, CEO William Gordon Stone III purchased 126,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $1.12 per share, for a total transaction of $141,568.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. White Pine Capital LLC increased its stake in shares of Digital Turbine by 23.2% in the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after purchasing an additional 136,800 shares during the last quarter. Trellus Management Company LLC increased its stake in shares of Digital Turbine by 16.2% in the 2nd quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after purchasing an additional 83,675 shares during the last quarter. Unterberg Capital LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at $412,000. Carleon Capital Partners LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at $2,673,000. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Digital Turbine in the 1st quarter valued at $188,000. Institutional investors own 19.20% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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