Digital Turbine (NASDAQ:APPS) Stock Price Down 6.3% – Should You Sell?

Digital Turbine, Inc. (NASDAQ:APPS)’s share price dropped 6.3% on Wednesday . The company traded as low as $11.46 and last traded at $11.3590. Approximately 678,859 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,132,630 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark upped their target price on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Roth Capital reissued a “buy” rating and issued a $17.50 price target on shares of Digital Turbine in a report on Thursday, August 6th. Zacks Research downgraded Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Craig Hallum restated a “buy” rating and set a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Finally, Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Digital Turbine Stock Performance

The firm’s 50 day moving average is $10.50 and its 200-day moving average is $6.59. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -41.19, a PEG ratio of 0.48 and a beta of 2.81. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.The firm had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Analysts forecast that Digital Turbine, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after buying an additional 2,449 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Digital Turbine by 74.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after acquiring an additional 437,310 shares during the last quarter. Strs Ohio purchased a new position in shares of Digital Turbine during the 1st quarter worth $41,000. Creative Planning raised its holdings in shares of Digital Turbine by 39.2% during the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after acquiring an additional 5,991 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Digital Turbine by 272.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock valued at $4,049,000 after acquiring an additional 501,829 shares during the last quarter. 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.