Digital Turbine (NASDAQ:APPS) Upgraded at StockNews.com

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

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

Digital Turbine Stock Up 5.3 %

APPS stock opened at $3.35 on Friday. The company’s 50 day moving average price is $3.29 and its 200 day moving average price is $2.69. 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 has a fifty-two week low of $1.18 and a fifty-two week high of $6.86. The firm has a market capitalization of $351.77 million, a price-to-earnings ratio of -1.11 and a beta of 2.43.

Digital Turbine (NASDAQ:APPS) last released 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 positive return on equity of 3.41% and a negative net margin of 64.06%. On average, equities research analysts anticipate that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently modified their holdings of APPS. Marshall Wace LLP acquired a new stake in shares of Digital Turbine in the fourth quarter valued at approximately $1,698,000. Bank of America Corp DE boosted its holdings in shares of Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after acquiring an additional 724,297 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Digital Turbine by 719.6% in the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after acquiring an additional 340,512 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Digital Turbine by 19.1% in 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 during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Digital Turbine during the fourth quarter worth $490,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Company Profile

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.