Digital Turbine (NASDAQ:APPS) Price Target Lowered to $4.00 at Craig Hallum

Digital Turbine (NASDAQ:APPS) had its price target reduced by Craig Hallum from $5.00 to $4.00 in a report released on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the software maker’s stock.

Separately, Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday.

Digital Turbine Price Performance

NASDAQ:APPS traded down $0.39 during mid-day trading on Thursday, reaching $1.40. The stock had a trading volume of 13,559,680 shares, compared to its average volume of 3,005,275. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.05 and a quick ratio of 1.05. Digital Turbine has a 12 month low of $1.39 and a 12 month high of $7.33. The stock has a market capitalization of $143.89 million, a PE ratio of -0.37, a P/E/G ratio of 9.61 and a beta of 2.59. The stock has a 50-day simple moving average of $3.03 and a two-hundred day simple moving average of $2.50.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Digital Turbine had a negative net margin of 84.71% and a positive return on equity of 5.37%. The firm had revenue of $117.99 million during the quarter, compared to the consensus estimate of $115.23 million. During the same quarter last year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, equities analysts anticipate that Digital Turbine will post 0.05 earnings per share for the current year.

Institutional Trading of Digital Turbine

Several hedge funds have recently bought and sold shares of APPS. Allspring Global Investments Holdings LLC purchased a new stake in Digital Turbine during the first quarter valued at approximately $55,000. BNP Paribas Financial Markets increased its stake in Digital Turbine by 192.8% in the 1st quarter. BNP Paribas Financial Markets now owns 290,070 shares of the software maker’s stock worth $760,000 after buying an additional 190,990 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Digital Turbine by 23.4% during the first quarter. Janney Montgomery Scott LLC now owns 177,849 shares of the software maker’s stock valued at $466,000 after acquiring an additional 33,755 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Digital Turbine by 155.0% in the 1st quarter. GSA Capital Partners LLP now owns 306,870 shares of the software maker’s stock worth $804,000 after buying an additional 186,523 shares during the period. Finally, Quantbot Technologies LP grew its holdings in Digital Turbine by 6,303.5% during the 1st quarter. Quantbot Technologies LP now owns 221,626 shares of the software maker’s stock worth $581,000 after acquiring an additional 218,165 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.