Digital Turbine (NASDAQ:APPS) Trading Down 14.1% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s share price dropped 14.1% during mid-day trading on Thursday . The stock traded as low as $6.32 and last traded at $6.2650. Approximately 3,602,249 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 5,222,263 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

Several equities analysts have weighed in on APPS shares. Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.50 to $5.50 in a research note on Wednesday, August 6th. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Craig Hallum restated a “buy” rating and set a $10.00 price target on shares of Digital Turbine in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.75.

Digital Turbine Stock Down 4.3%

The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The business’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $5.12. The firm has a market cap of $671.78 million, a P/E ratio of -8.21, a P/E/G ratio of 1.84 and a beta of 2.55.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. The firm had revenue of $140.38 million for the quarter, compared to the consensus estimate of $142.00 million. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of large investors have recently added to or reduced their stakes in APPS. Vanguard Group Inc. grew its holdings in Digital Turbine by 0.4% during the third quarter. Vanguard Group Inc. now owns 9,072,239 shares of the software maker’s stock valued at $58,062,000 after purchasing an additional 33,944 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in Digital Turbine by 22.1% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 310,649 shares of the software maker’s stock valued at $1,968,000 after buying an additional 56,263 shares during the last quarter. Stoneridge Investment Partners LLC raised its holdings in Digital Turbine by 138.7% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 27,229 shares of the software maker’s stock worth $174,000 after acquiring an additional 15,821 shares during the period. AIGH Capital Management LLC acquired a new position in Digital Turbine during the 3rd quarter worth $9,748,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Digital Turbine by 19.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 305,499 shares of the software maker’s stock worth $1,955,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.