Zacks Investment Research downgraded shares of Digital Turbine, Inc. (NASDAQ:APPS) from a hold rating to a sell rating in a research note released on Friday morning.

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. “

Several other equities analysts also recently commented on APPS. ValuEngine downgraded Digital Turbine from a sell rating to a strong sell rating in a research report on Thursday, July 20th. Roth Capital set a $1.00 target price on Digital Turbine and gave the company a buy rating in a research report on Friday, July 28th. Finally, B. Riley reaffirmed a buy rating and issued a $1.40 target price on shares of Digital Turbine in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Digital Turbine has a consensus rating of Hold and a consensus target price of $1.55.

Digital Turbine (NASDAQ:APPS) traded down $0.01 during trading on Friday, hitting $1.48. The stock had a trading volume of 199,900 shares, compared to its average volume of 251,449. Digital Turbine has a 52 week low of $0.59 and a 52 week high of $1.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The company had revenue of $27.90 million for the quarter, compared to the consensus estimate of $26.96 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. analysts anticipate that Digital Turbine will post -0.15 EPS for the current year.

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Several hedge funds have recently modified their holdings of the stock. EAM Investors LLC bought a new stake in shares of Digital Turbine in the third quarter valued at approximately $465,000. Perkins Capital Management Inc. boosted its stake in shares of Digital Turbine by 5.5% in the third quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock valued at $1,376,000 after buying an additional 47,500 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Digital Turbine in the third quarter valued at approximately $101,000. Essex Investment Management Co. LLC bought a new stake in shares of Digital Turbine in the third quarter valued at approximately $665,000. Finally, P.A.W. Capital Corp boosted its stake in shares of Digital Turbine by 5.0% in the third quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock valued at $1,268,000 after buying an additional 40,000 shares during the period. Institutional investors and hedge funds own 16.96% of the company’s stock.

About Digital Turbine

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.

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