Zacks Investment Research Upgrades Digital Turbine (APPS) to “Strong-Buy”

Digital Turbine (NASDAQ:APPS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage currently has a $1.75 price target on the software maker’s stock. Zacks Investment Research‘s price target indicates a potential upside of 2.94% from the company’s previous close.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

A number of other analysts also recently issued reports on the stock. National Securities reiterated a “buy” rating and issued a $3.50 price objective on shares of Digital Turbine in a report on Monday, August 13th. ValuEngine downgraded shares of Digital Turbine from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, TheStreet upgraded shares of Digital Turbine from a “d” rating to a “c” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $2.85.

APPS stock traded up $0.08 during mid-day trading on Friday, hitting $1.70. 1,334,758 shares of the company were exchanged, compared to its average volume of 677,582. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.82. The company has a market capitalization of $118.04 million, a P/E ratio of -18.89 and a beta of 1.05. Digital Turbine has a 1-year low of $1.12 and a 1-year high of $2.59.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Thursday, August 9th. The software maker reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative net margin of 38.14% and a negative return on equity of 15.28%. The firm had revenue of $22.11 million for the quarter, compared to the consensus estimate of $22.98 million. Analysts forecast that Digital Turbine will post -0.04 earnings per share for the current year.

In other Digital Turbine news, Director Roy H. Chestnutt acquired 20,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $1.32 per share, for a total transaction of $26,400.00. Following the completion of the acquisition, the director now directly owns 66,763 shares of the company’s stock, valued at $88,127.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert M. Deutschman acquired 25,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was acquired 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 of the company’s stock, valued at $371,538.50. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of Digital Turbine in the third quarter valued at $178,000. JPMorgan Chase & Co. bought a new position in shares of Digital Turbine in the third quarter valued at $217,000. Northern Trust Corp grew its stake in shares of Digital Turbine by 35.9% in the first quarter. Northern Trust Corp now owns 125,271 shares of the software maker’s stock valued at $251,000 after buying an additional 33,078 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Digital Turbine by 98.8% in the second quarter. Acadian Asset Management LLC now owns 243,916 shares of the software maker’s stock valued at $368,000 after buying an additional 121,211 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Digital Turbine by 66.5% in the second quarter. BlackRock Inc. now owns 324,099 shares of the software maker’s stock valued at $490,000 after buying an additional 129,460 shares in the last quarter. 26.45% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Company Profile

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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