Digital Turbine (NASDAQ:APPS) Stock Rating Lowered by Bank of America

Digital Turbine (NASDAQ:APPS) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $1.00 target price on the software maker’s stock. Bank of America‘s target price indicates a potential downside of 28.57% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Craig Hallum dropped their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Macquarie cut their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Price Performance

APPS stock opened at $1.40 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $2.49. The stock has a market capitalization of $145.22 million, a price-to-earnings ratio of -0.47, a PEG ratio of 4.61 and a beta of 2.59. Digital Turbine has a 12-month low of $1.31 and a 12-month high of $7.33.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. As a group, equities analysts predict that Digital Turbine will post 0.05 earnings per share for the current year.

Insider Activity

In related news, Director Robert M. Deutschman acquired 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now directly owns 571,216 shares in the company, valued at $805,414.56. This represents a 21.22 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Digital Turbine

Large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Digital Turbine in the first quarter worth $28,000. Ballentine Partners LLC purchased a new stake in Digital Turbine during the third quarter valued at $43,000. Creative Planning bought a new position in Digital Turbine during the third quarter valued at $57,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine in the 1st quarter worth $55,000. 63.66% of the stock is owned by institutional investors.

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.