Digital Turbine (NASDAQ:APPS) Shares Down 6.9% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price fell 6.9% during mid-day trading on Tuesday . The stock traded as low as $13.59 and last traded at $13.3980. Approximately 1,309,392 shares changed hands during trading, a decline of 69% from the average daily volume of 4,180,906 shares. The stock had previously closed at $14.39.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APPS shares. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Roth Capital reaffirmed a “buy” rating and issued a $17.50 price objective on shares of Digital Turbine in a research note on Thursday, August 6th. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen lowered shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Digital Turbine currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Digital Turbine Price Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50 day moving average price of $10.07 and a 200-day moving average price of $6.21. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -51.40, a P/E/G ratio of 0.53 and a beta of 2.81.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to analysts’ expectations of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. Research analysts predict that Digital Turbine, Inc. will post 0.86 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Several large investors have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Digital Turbine by 9.4% in the 3rd quarter. Creative Planning now owns 23,286 shares of the software maker’s stock valued at $149,000 after acquiring an additional 1,997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after purchasing an additional 2,449 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Digital Turbine by 23.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker’s stock worth $66,000 after purchasing an additional 2,536 shares during the period. Legal & General Group Plc increased its stake in Digital Turbine by 31.6% in 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 in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Digital Turbine by 22.5% during the second quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock valued at $107,000 after purchasing an additional 3,322 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.