Digital Turbine (APPS) Raised to C at TheStreet

TheStreet upgraded shares of Digital Turbine (NASDAQ:APPS) from a d rating to a c rating in a research report released on Tuesday morning.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Digital Turbine from a sell rating to a buy rating and set a $1.50 price objective for the company in a research report on Tuesday, August 7th. National Securities set a $4.00 target price on Digital Turbine and gave the company a buy rating in a report on Tuesday. Finally, ValuEngine downgraded Digital Turbine from a buy rating to a hold rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $2.77.

Shares of APPS stock opened at $1.62 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. Digital Turbine has a fifty-two week low of $1.12 and a fifty-two week high of $2.59. The company has a market capitalization of $118.04 million, a price-to-earnings ratio of -18.00 and a beta of 1.05.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 15.28% and a negative net margin of 38.14%. The firm had revenue of $22.11 million during the quarter, compared to the consensus estimate of $22.98 million. On average, equities analysts predict that Digital Turbine will post -0.04 EPS for the current year.

In other Digital Turbine news, Director Robert M. Deutschman bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was bought at an average price of $1.27 per share, for a total transaction of $31,750.00. Following the completion of the acquisition, the director now directly owns 292,550 shares in the company, valued at $371,538.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roy H. Chestnutt bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average price of $1.32 per share, with a total value of $26,400.00. Following the acquisition, the director now owns 66,763 shares of the company’s stock, valued at $88,127.16. The disclosure for this purchase can be found here. 6.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Unterberg Capital LLC raised its holdings in shares of Digital Turbine by 16.7% during the second quarter. Unterberg Capital LLC now owns 2,100,000 shares of the software maker’s stock valued at $3,171,000 after acquiring an additional 300,000 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Digital Turbine by 397.9% during the first quarter. Millennium Management LLC now owns 1,549,547 shares of the software maker’s stock valued at $3,115,000 after acquiring an additional 1,238,351 shares in the last quarter. Granahan Investment Management Inc. MA raised its holdings in shares of Digital Turbine by 143.8% during the second quarter. Granahan Investment Management Inc. MA now owns 1,400,126 shares of the software maker’s stock valued at $2,114,000 after acquiring an additional 825,915 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Digital Turbine by 143.8% during the second quarter. United Services Automobile Association now owns 1,382,947 shares of the software maker’s stock valued at $2,088,000 after acquiring an additional 815,677 shares in the last quarter. Finally, P.A.W. Capital Corp raised its holdings in shares of Digital Turbine by 71.4% during the second quarter. P.A.W. Capital Corp now owns 1,200,000 shares of the software maker’s stock valued at $1,812,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors own 26.45% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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