Digital Turbine (NASDAQ:APPS) Releases Earnings Results, Beats Estimates By $0.04 EPS

Digital Turbine (NASDAQ:APPS) announced its quarterly earnings results on Tuesday. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04, Zacks reports. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%.

Digital Turbine Stock Performance

Digital Turbine stock traded down $0.39 during trading on Tuesday, reaching $5.92. The company had a trading volume of 4,062,589 shares, compared to its average volume of 5,103,136. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $7.77. The firm’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.06. The firm has a market capitalization of $661.56 million, a price-to-earnings ratio of -7.69, a price-to-earnings-growth ratio of 3.98 and a beta of 2.55. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors have recently bought and sold shares of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $156,000 after purchasing an additional 2,449 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 purchasing an additional 437,310 shares during the period. Strs Ohio bought a new position in Digital Turbine in the 1st quarter worth $41,000. Creative Planning raised its holdings in Digital Turbine by 39.2% in the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after purchasing an additional 5,991 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Digital Turbine by 272.0% during the second 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 period. 63.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Digital Turbine from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Craig Hallum increased their price target on Digital Turbine from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and increased their price target for the company from $4.50 to $5.50 in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.17.

Digital Turbine Company Profile

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.