Digital Turbine (NASDAQ:APPS) Price Target Cut to $2.00 by Analysts at Macquarie

Digital Turbine (NASDAQ:APPS - Get Free Report) had its price target reduced by equities research analysts at Macquarie from $3.00 to $2.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the software maker's stock. Macquarie's price objective would suggest a potential upside of 12.36% from the stock's current price.

Digital Turbine Trading Down 45.1 %

Shares of Digital Turbine stock traded down $1.46 on Thursday, hitting $1.78. The stock had a trading volume of 21,052,875 shares, compared to its average volume of 2,937,802. Digital Turbine has a one year low of $1.39 and a one year high of $7.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01. The stock's 50-day simple moving average is $3.07 and its two-hundred day simple moving average is $2.50. The stock has a market cap of $182.95 million, a price-to-earnings ratio of -0.41, a PEG ratio of 9.61 and a beta of 2.59.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Digital Turbine had a negative net margin of 84.71% and a positive return on equity of 5.37%. The firm had revenue of $117.99 million during the quarter, compared to analyst estimates of $115.23 million. During the same period last year, the business earned $0.08 earnings per share. The business's revenue was down 19.4% on a year-over-year basis. As a group, sell-side analysts predict that Digital Turbine will post 0.05 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Blue Trust Inc. lifted its holdings in Digital Turbine by 104.1% in the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker's stock valued at $25,000 after acquiring an additional 4,167 shares during the period. Quadrature Capital Ltd bought a new stake in Digital Turbine in the 1st quarter worth approximately $28,000. Ballentine Partners LLC purchased a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $43,000. SG Americas Securities LLC bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $46,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine in the first quarter valued at $55,000. 63.66% of the stock is owned by institutional investors.

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.

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