Digital Turbine (NASDAQ:APPS) Stock Price Down 6.6% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s share price was down 6.6% during mid-day trading on Tuesday . The stock traded as low as $9.24 and last traded at $9.1810. Approximately 1,926,235 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 4,031,519 shares. The stock had previously closed at $9.83.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APPS shares. Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Finally, Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Trading Down 6.1%

The company has a market capitalization of $1.11 billion, a P/E ratio of -25.68, a P/E/G ratio of 0.76 and a beta of 2.84. The stock’s 50 day moving average is $5.25 and its 200-day moving average is $4.75. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.16 and a quick ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. The company had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.23 million. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPS. Essential Partners LLC lifted its position in Digital Turbine by 167.3% during the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after buying an additional 5,652 shares during the period. Quarry LP lifted its position in Digital Turbine by 1,323.4% during the fourth quarter. Quarry LP now owns 5,594 shares of the software maker’s stock valued at $28,000 after buying an additional 5,201 shares during the period. Verus Capital Partners LLC purchased a new position in Digital Turbine during the first quarter valued at $35,000. Strs Ohio purchased a new position in shares of Digital Turbine in the 1st quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.