Digital Turbine (NASDAQ:APPS) Announces Earnings Results

Digital Turbine (NASDAQ:APPS) released its quarterly earnings results on Wednesday. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.08), Zacks reports. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%.

Digital Turbine Trading Up 2.4 %

Shares of APPS stock traded up $0.06 during mid-day trading on Wednesday, reaching $2.54. The company’s stock had a trading volume of 6,763,529 shares, compared to its average volume of 3,034,543. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $263.47 million, a PE ratio of -0.86 and a beta of 2.38. The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $2.44. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $5.34.

Insider Transactions at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the transaction, the director now owns 571,216 shares of the company’s stock, valued at $805,414.56. This represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 127,000 shares of company stock valued at $175,610 over the last quarter. Company insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APPS. Macquarie cut their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Craig Hallum cut their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.38.

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.