Digital Turbine (NASDAQ:APPS) Shares Down 7.4% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price traded down 7.4% on Wednesday . The stock traded as low as $5.11 and last traded at $5.0950. 1,669,904 shares were traded during trading, a decline of 29% from the average session volume of 2,366,574 shares. The stock had previously closed at $5.50.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APPS. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research note on Monday, December 29th. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Craig Hallum reissued a “buy” rating and set a $10.00 price target on shares of Digital Turbine in a report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Digital Turbine Stock Performance

The firm has a market cap of $591.03 million, a PE ratio of -7.22, a PEG ratio of 1.52 and a beta of 2.24. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. The firm’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $5.26.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a positive return on equity of 12.12% and a negative net margin of 14.59%.The firm had revenue of $140.38 million during the quarter, compared to analyst estimates of $142.00 million. On average, research analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of Digital Turbine in the third quarter valued at $31,000. Strs Ohio purchased a new stake in Digital Turbine during the first quarter valued at $41,000. Smartleaf Asset Management LLC bought a new position in Digital Turbine during the second quarter valued at $57,000. Legal & General Group Plc lifted its position in Digital Turbine by 31.6% during the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock valued at $63,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Digital Turbine in the 4th quarter worth $67,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.