Digital Turbine, Inc. (NASDAQ:APPS – Get Rating)'s stock price fell 7.9% on Tuesday . The company traded as low as $18.45 and last traded at $18.73. 11,015 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,827,307 shares. The stock had previously closed at $20.33.
Analysts Set New Price Targets
A number of research firms recently weighed in on APPS. Macquarie decreased their price target on Digital Turbine from $70.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, June 1st. StockNews.com upgraded Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, August 17th. Oppenheimer decreased their price target on Digital Turbine from $117.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, June 1st. B. Riley increased their price target on Digital Turbine from $29.00 to $33.00 in a research report on Tuesday, August 9th. Finally, Craig Hallum reduced their price objective on Digital Turbine to $60.00 in a research note on Monday, August 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Digital Turbine currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.50.
Get Digital Turbine alerts:Digital Turbine Stock Performance
The firm has a 50 day moving average of $19.99 and a 200-day moving average of $26.83. The stock has a market capitalization of $1.78 billion, a PE ratio of 51.56, a P/E/G ratio of 1.54 and a beta of 2.41. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.
Digital Turbine (NASDAQ:APPS – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The software maker reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Digital Turbine had a return on equity of 29.78% and a net margin of 3.42%. The company had revenue of $188.63 million during the quarter, compared to the consensus estimate of $184.68 million. Research analysts forecast that Digital Turbine, Inc. will post 1.23 earnings per share for the current year.Institutional Investors Weigh In On Digital Turbine
Hedge funds and other institutional investors have recently made changes to their positions in the company. Guardian Wealth Management Inc. purchased a new stake in shares of Digital Turbine during the 4th quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in shares of Digital Turbine in the 1st quarter valued at approximately $31,000. Quantbot Technologies LP bought a new position in shares of Digital Turbine in the 1st quarter valued at approximately $58,000. Canada Pension Plan Investment Board bought a new position in shares of Digital Turbine in the 1st quarter valued at approximately $73,000. Finally, Lazard Asset Management LLC raised its stake in shares of Digital Turbine by 86.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,110 shares of the software maker's stock valued at $36,000 after acquiring an additional 979 shares in the last quarter. 65.70% of the stock is owned by hedge funds and other institutional investors.
Digital Turbine Company Profile
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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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.
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