Roth Mkm Cuts Digital Turbine (NASDAQ:APPS) Price Target to $3.00

Digital Turbine (NASDAQ:APPS) had its price target lowered by Roth Mkm from $4.50 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

APPS has been the topic of a number of other research reports. Craig Hallum dropped their target price on shares of Digital Turbine from $12.00 to $10.00 and set a buy rating on the stock in a research report on Thursday, February 8th. StockNews.com upgraded Digital Turbine from a sell rating to a hold rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Digital Turbine currently has a consensus rating of Hold and an average target price of $7.00.

Digital Turbine Price Performance

Shares of APPS stock opened at $2.14 on Wednesday. Digital Turbine has a twelve month low of $1.78 and a twelve month high of $11.46. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $2.23 and a 200 day simple moving average of $4.09. The company has a market cap of $218.32 million, a P/E ratio of -1.09, a P/E/G ratio of 5.75 and a beta of 2.54.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently made changes to their positions in APPS. Jacobs Levy Equity Management Inc. purchased a new position in Digital Turbine during the 1st quarter valued at about $2,177,000. Janus Henderson Group PLC increased its position in Digital Turbine by 6.0% during the 1st quarter. Janus Henderson Group PLC now owns 239,595 shares of the software maker’s stock valued at $628,000 after buying an additional 13,648 shares in the last quarter. Paloma Partners Management Co bought a new stake in Digital Turbine in the first quarter worth $227,000. Public Employees Retirement System of Ohio bought a new stake in Digital Turbine during the 1st quarter valued at about $192,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Digital Turbine by 57.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 112,797 shares of the software maker’s stock worth $296,000 after buying an additional 41,261 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

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.