Digital Turbine (NASDAQ:APPS) Stock Price Down 9.1% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS) fell 9.1% during mid-day trading on Wednesday . The company traded as low as $4.22 and last traded at $4.2450. 894,110 shares were traded during trading, a decline of 74% from the average session volume of 3,462,780 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APPS. Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Craig Hallum reaffirmed a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Digital Turbine currently has an average rating of “Moderate Buy” and an average price target of $7.75.

Digital Turbine Stock Performance

The stock has a market capitalization of $516.17 million, a PE ratio of -8.97, a price-to-earnings-growth ratio of 0.51 and a beta of 2.26. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $5.05 and a 200-day moving average of $5.22.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, February 3rd. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%.The business had revenue of $151.40 million during the quarter, compared to analysts’ expectations of $145.72 million. Equities analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

A number of institutional investors have recently bought and sold shares of APPS. State of Alaska Department of Revenue acquired a new position in shares of Digital Turbine during the 3rd quarter worth about $31,000. Smartleaf Asset Management LLC acquired a new position in Digital Turbine in the second quarter valued at approximately $57,000. PFG Investments LLC acquired a new position in Digital Turbine in the fourth quarter valued at approximately $50,000. 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 during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Digital Turbine during the third quarter worth approximately $71,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.