Digital Turbine (NASDAQ:APPS) Price Target Cut to $9.00

Digital Turbine (NASDAQ:APPS – Get Rating) had its target price trimmed by B. Riley from $12.00 to $9.00 in a research note published on Monday morning, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Macquarie cut Digital Turbine from an outperform rating to a neutral rating and set a $12.00 target price for the company. in a report on Friday, February 17th. Craig Hallum dropped their target price on Digital Turbine from $30.00 to $25.00 and set a buy rating for the company in a report on Thursday, February 9th. Oppenheimer cut Digital Turbine from an outperform rating to a market perform rating in a report on Thursday, February 9th. Finally, StockNews.com lowered Digital Turbine from a hold rating to a sell rating in a research report on Monday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Digital Turbine presently has an average rating of Hold and a consensus target price of $18.17.

Digital Turbine Price Performance

APPS opened at $9.82 on Monday. The stock has a 50-day moving average price of $14.14 and a 200-day moving average price of $15.25. Digital Turbine has a 12-month low of $9.13 and a 12-month high of $47.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $974.14 million, a P/E ratio of 20.04, a PEG ratio of 0.94 and a beta of 2.49.

Digital Turbine (NASDAQ:APPS – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The software maker reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). Digital Turbine had a return on equity of 21.20% and a net margin of 7.14%. The firm had revenue of $162.31 million during the quarter, compared to analysts’ expectations of $184.94 million. Equities analysts predict that Digital Turbine will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Digital Turbine

In other Digital Turbine news, CEO William Gordon Stone III sold 36,025 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $10.75, for a total transaction of $387,268.75. Following the completion of the transaction, the chief executive officer now owns 1,682,789 shares of the company’s stock, valued at approximately $18,089,981.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Alpha Paradigm Partners LLC bought a new position in shares of Digital Turbine in the 2nd quarter worth approximately $519,000. Advisors Asset Management Inc. raised its position in shares of Digital Turbine by 4.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 28,718 shares of the software maker’s stock worth $502,000 after acquiring an additional 1,343 shares in the last quarter. Texas Permanent School Fund increased its position in Digital Turbine by 1.4% during the 3rd quarter. Texas Permanent School Fund now owns 64,563 shares of the software maker’s stock valued at $930,000 after buying an additional 917 shares in the last quarter. Anderson Hoagland & Co. increased its position in Digital Turbine by 15.7% during the 3rd quarter. Anderson Hoagland & Co. now owns 73,487 shares of the software maker’s stock valued at $1,059,000 after buying an additional 9,961 shares in the last quarter. Finally, Money Concepts Capital Corp increased its position in Digital Turbine by 5,650.0% during the 3rd quarter. Money Concepts Capital Corp now owns 3,680 shares of the software maker’s stock valued at $53,000 after buying an additional 3,616 shares in the last quarter. Institutional investors own 62.45% of the company’s stock.

About Digital Turbine

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).