Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.71 and traded as high as $1.84. Digital Turbine shares last traded at $1.81, with a volume of 2,423,913 shares.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Craig Hallum reduced their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Bank of America lowered Digital Turbine from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Finally, Macquarie lowered their price objective on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.38.
Check Out Our Latest Report on Digital Turbine
Digital Turbine Stock Down 2.2 %
The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $187.74 million, a price-to-earnings ratio of -0.61 and a beta of 2.34. The firm's 50-day moving average is $1.68 and its 200 day moving average is $2.40.
Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm had revenue of $118.70 million for the quarter, compared to analyst estimates of $125.85 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The company's quarterly revenue was down 17.1% on a year-over-year basis. Sell-side analysts anticipate that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.
Insider Activity
In other Digital Turbine news, Director Robert M. Deutschman bought 100,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the purchase, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 21.22 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 127,000 shares of company stock valued at $175,610 in the last three months. Corporate insiders own 5.80% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Digital Turbine by 97.1% in the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker's stock valued at $2,546,000 after purchasing an additional 755,707 shares during the period. Acadian Asset Management LLC purchased a new position in Digital Turbine in the 2nd quarter valued at about $594,000. JPMorgan Chase & Co. grew its stake in shares of Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock valued at $1,191,000 after acquiring an additional 340,512 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after acquiring an additional 181,032 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in Digital Turbine in the third quarter valued at about $405,000. Institutional investors and hedge funds own 63.66% of the company's stock.
Digital Turbine Company Profile
(
Get Free Report)
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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