Digital Turbine, Inc. (APPS) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Digital Turbine, Inc. (NASDAQ:APPS) from a sell rating to a hold rating in a research note released on Tuesday morning.

Several other equities research analysts have also issued reports on APPS. Zacks Investment Research lowered shares of Digital Turbine from a buy rating to a hold rating in a report on Tuesday, October 10th. B. Riley reiterated a buy rating and set a $1.40 target price on shares of Digital Turbine in a research report on Monday, August 14th. Finally, Roth Capital set a $1.00 price target on shares of Digital Turbine and gave the stock a buy rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $1.43.

Shares of Digital Turbine (APPS) traded up $0.01 during midday trading on Tuesday, hitting $1.58. The company had a trading volume of 149,651 shares, compared to its average volume of 279,168.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. Digital Turbine had a negative net margin of 22.54% and a negative return on equity of 31.91%. The business had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $24.46 million. During the same quarter in the previous year, the company earned ($0.11) EPS. analysts forecast that Digital Turbine will post -0.09 EPS for the current year.

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In other news, CEO William Gordon Stone III purchased 126,400 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $1.12 per share, with a total value of $141,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of APPS. Essex Investment Management Co. LLC bought a new position in shares of Digital Turbine in the third quarter worth approximately $665,000. Unterberg Capital LLC bought a new position in shares of Digital Turbine in the second quarter worth approximately $412,000. Carleon Capital Partners LLC bought a new position in shares of Digital Turbine in the second quarter worth approximately $2,673,000. White Pine Capital LLC grew its holdings in shares of Digital Turbine by 23.2% in the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock worth $747,000 after purchasing an additional 136,800 shares during the last quarter. Finally, Trellus Management Company LLC lifted its stake in Digital Turbine by 16.8% in the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after acquiring an additional 100,689 shares during the period. Institutional investors own 16.11% of the company’s stock.

Digital Turbine Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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