Digital Turbine (NASDAQ:APPS) Trading Down 2.8%

Shares of Digital Turbine, Inc. (NASDAQ:APPS) fell 2.8% during mid-day trading on Friday . The company traded as low as $7.67 and last traded at $7.69. 280,820 shares traded hands during trading, a decline of 87% from the average session volume of 2,109,642 shares. The stock had previously closed at $7.91.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APPS. Bank of America lowered their price target on Digital Turbine from $16.00 to $13.00 in a report on Thursday, May 25th. Craig Hallum dropped their price target on shares of Digital Turbine from $25.00 to $20.00 in a research report on Thursday, May 25th. Roth Mkm cut shares of Digital Turbine from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $10.00 in a report on Thursday, May 25th. Roth Capital lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating in a research note on Thursday, May 25th. Finally, StockNews.com assumed coverage on Digital Turbine in a research report on Thursday, August 17th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.71.

Digital Turbine Price Performance

The firm has a market capitalization of $755.91 million, a P/E ratio of -107.27, a P/E/G ratio of 2.09 and a beta of 2.49. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $9.67 and its 200 day moving average is $10.54.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $146.37 million for the quarter, compared to analysts’ expectations of $143.06 million. Digital Turbine had a positive return on equity of 10.47% and a negative net margin of 1.03%. As a group, analysts forecast that Digital Turbine, Inc. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds have recently modified their holdings of APPS. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Digital Turbine by 439.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,530 shares of the software maker’s stock worth $345,000 after buying an additional 23,242 shares during the period. White Pine Capital LLC raised its holdings in shares of Digital Turbine by 55.5% during the first quarter. White Pine Capital LLC now owns 44,379 shares of the software maker’s stock valued at $549,000 after acquiring an additional 15,846 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Digital Turbine during the first quarter valued at approximately $105,000. Nisa Investment Advisors LLC lifted its position in shares of Digital Turbine by 342.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 21,325 shares of the software maker’s stock valued at $264,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Gagnon Securities LLC acquired a new position in Digital Turbine in the 1st quarter worth approximately $278,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

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.