Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) dropped 8.9% on Tuesday . The company traded as low as $5.70 and last traded at $5.64. Approximately 2,220,201 shares were traded during trading, a decline of 75% from the average daily volume of 8,859,835 shares. The stock had previously closed at $6.19.
Analysts Set New Price Targets
APPS has been the topic of a number of recent analyst reports. Bank of America downgraded Digital Turbine from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Macquarie lowered their price target on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Finally, Craig Hallum lowered their price target on Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $2.38.
Check Out Our Latest Report on APPS
Digital Turbine Stock Down 11.7 %
The firm has a 50-day moving average price of $2.82 and a 200 day moving average price of $2.71. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $444.19 million, a price-to-earnings ratio of -1.40 and a beta of 2.38.
Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. Sell-side analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current year.
Hedge Funds Weigh In On Digital Turbine
Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Digital Turbine by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker's stock worth $93,000 after buying an additional 2,356 shares in the last quarter. Blue Trust Inc. grew its position in Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker's stock worth $25,000 after buying an additional 4,167 shares in the last quarter. Two Sigma Advisers LP grew its position in Digital Turbine by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock worth $2,775,000 after buying an additional 7,100 shares in the last quarter. US Bancorp DE grew its position in Digital Turbine by 37.7% during the third quarter. US Bancorp DE now owns 26,561 shares of the software maker's stock worth $82,000 after buying an additional 7,266 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Digital Turbine by 28.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker's stock worth $64,000 after buying an additional 8,426 shares in the last quarter. 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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