Digital Turbine price target lowered to $4 from $5 at B. Riley

B. Riley lowered the firm’s price target on Digital Turbine to $4 from $5 and keeps a Neutral rating on the shares. The company reported fiscal Q3 results that came in below the low end of guidance while posting a softer than expected outlook for Q4, the analyst tells investors in a research note. The firm says that while soft device shipments and the broader macro environment have been a headwind, the lack of execution and tangible progress in showing revenue from SingleTap licensing and alternative app store distribution will keep investors on the sideline until there is line of sight back to revenue growth.