Digital Turbine (NASDAQ:APPS) Trading Down 7.6% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price fell 7.6% on Wednesday . The stock traded as low as $8.64 and last traded at $8.4830. 1,427,680 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 4,127,162 shares. The stock had previously closed at $9.18.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APPS shares. Weiss Ratings cut shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Benchmark started coverage on shares of Digital Turbine in a report on Tuesday. They issued a “buy” rating and a $15.00 price objective on the stock. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Wednesday, May 27th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Finally, Roth Capital initiated coverage on shares of Digital Turbine in a research note on Tuesday. They set a “buy” rating and a $11.50 target price for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Digital Turbine has an average rating of “Buy” and a consensus target price of $11.00.

Digital Turbine Stock Down 7.6%

The firm has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $5.72. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -23.54, a price-to-earnings-growth ratio of 0.65 and a beta of 2.75. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.22 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. On average, sell-side analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Digital Turbine by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker’s stock valued at $45,509,000 after acquiring an additional 29,540 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after purchasing an additional 762,888 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine during the first quarter worth about $14,100,000. Bank of America Corp DE increased its position in shares of Digital Turbine by 17.4% during the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after purchasing an additional 535,169 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Digital Turbine by 4.6% in 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 during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.