Digital Turbine (NASDAQ:APPS - Get Free Report) had its target price reduced by investment analysts at Craig Hallum from $5.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Craig Hallum's price objective would indicate a potential upside of 124.72% from the stock's current price.
Separately, Macquarie reduced their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Thursday.
View Our Latest Analysis on Digital Turbine
Digital Turbine Stock Down 45.1 %
NASDAQ APPS traded down $1.46 during mid-day trading on Thursday, hitting $1.78. The company's stock had a trading volume of 21,052,875 shares, compared to its average volume of 2,937,802. The firm has a market capitalization of $182.95 million, a price-to-earnings ratio of -0.41, a PEG ratio of 9.61 and a beta of 2.59. The company's 50 day simple moving average is $3.07 and its 200 day simple moving average is $2.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.01. Digital Turbine has a twelve month low of $1.39 and a twelve month high of $7.32.
Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $117.99 million during the quarter, compared to the consensus estimate of $115.23 million. Digital Turbine had a negative net margin of 84.71% and a positive return on equity of 5.37%. The firm's revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Analysts anticipate that Digital Turbine will post 0.05 earnings per share for the current year.
Hedge Funds Weigh In On Digital Turbine
A number of institutional investors have recently added to or reduced their stakes in APPS. Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine during the first quarter worth about $55,000. BNP Paribas Financial Markets increased its holdings in shares of Digital Turbine by 192.8% in the 1st quarter. BNP Paribas Financial Markets now owns 290,070 shares of the software maker's stock worth $760,000 after buying an additional 190,990 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Digital Turbine by 23.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 177,849 shares of the software maker's stock worth $466,000 after acquiring an additional 33,755 shares during the last quarter. GSA Capital Partners LLP grew its position in Digital Turbine by 155.0% in the first quarter. GSA Capital Partners LLP now owns 306,870 shares of the software maker's stock worth $804,000 after acquiring an additional 186,523 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in Digital Turbine by 6,303.5% during the first quarter. Quantbot Technologies LP now owns 221,626 shares of the software maker's stock worth $581,000 after purchasing an additional 218,165 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.
About Digital Turbine
(
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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.
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