Digital Turbine (NASDAQ:APPS) Rating Lowered to Underperform at Bank of America

Bank of America cut shares of Digital Turbine (NASDAQ:APPS) from a neutral rating to an underperform rating in a research report report published on Friday, MarketBeat reports. They currently have $1.00 price target on the software maker’s stock, down from their prior price target of $3.50.

APPS has been the subject of a number of other reports. Macquarie cut their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Craig Hallum cut their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One 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. Based on data from MarketBeat.com, Digital Turbine presently has a consensus rating of “Hold” and an average target price of $2.38.

Digital Turbine Stock Down 4.6 %

APPS opened at $1.25 on Friday. The business’s fifty day moving average is $2.84 and its two-hundred day moving average is $2.49. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $129.66 million, a price-to-earnings ratio of -0.42, a PEG ratio of 4.05 and a beta of 2.59. Digital Turbine has a one year low of $1.22 and a one year high of $7.33.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Analysts anticipate that Digital Turbine will post 0.05 EPS for the current fiscal year.

Insider Activity at Digital Turbine

In other news, Director Robert M. Deutschman acquired 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the purchase, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This represents a 21.22 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Digital Turbine

Several institutional investors and hedge funds have recently bought and sold shares of APPS. Allspring Global Investments Holdings LLC acquired a new stake in Digital Turbine during the first quarter valued at approximately $55,000. BNP Paribas Financial Markets raised its position in shares of Digital Turbine by 192.8% during the 1st quarter. BNP Paribas Financial Markets now owns 290,070 shares of the software maker’s stock worth $760,000 after purchasing an additional 190,990 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Digital Turbine by 23.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 177,849 shares of the software maker’s stock worth $466,000 after purchasing an additional 33,755 shares during the period. Russell Investments Group Ltd. raised its position in shares of Digital Turbine by 143,142.6% during the 1st quarter. Russell Investments Group Ltd. now owns 67,324 shares of the software maker’s stock worth $176,000 after purchasing an additional 67,277 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Digital Turbine during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.