Digital Turbine (NASDAQ:APPS) Trading Down 7.3% – What’s Next?

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price traded down 7.3% during mid-day trading on Thursday . The company traded as low as $9.15 and last traded at $9.0210. Approximately 176,056 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,158,478 shares. The stock had previously closed at $9.73.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Wednesday, May 27th. Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings cut Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Finally, Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Digital Turbine presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Stock Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $1.01 billion, a P/E ratio of -23.17, a P/E/G ratio of 0.67 and a beta of 2.75. The company’s 50 day moving average is $8.59 and its 200 day moving average is $5.66.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The firm had revenue of $142.55 million for the quarter, compared to analysts’ expectations of $133.22 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. As a group, equities analysts predict that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Digital Turbine by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker’s stock worth $45,509,000 after purchasing an additional 29,540 shares during the last quarter. Granahan Investment Management LLC lifted its stake in shares of Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after purchasing an additional 762,888 shares during the period. AIGH Capital Management LLC acquired a new position in shares of Digital Turbine in the 1st quarter valued at about $14,100,000. Bank of America Corp DE boosted its position in shares of Digital Turbine by 17.4% during the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock valued at $10,423,000 after purchasing an additional 535,169 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Digital Turbine by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 2,528,772 shares of the software maker’s stock valued at $12,646,000 after purchasing an additional 110,871 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.