Digital Turbine (NASDAQ:APPS) Stock Price Down 6% – Should You Sell?

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price fell 6% during trading on Thursday . The stock traded as low as $10.52 and last traded at $10.85. Approximately 719,978 shares changed hands during trading, a decline of 82% from the average session volume of 3,927,320 shares. The stock had previously closed at $11.54.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price on shares of Digital Turbine in a research note on Wednesday, August 5th. Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Benchmark upped their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Roth Capital restated a “buy” rating and set a $17.50 price objective on shares of Digital Turbine in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.75.

Digital Turbine Stock Down 6.8%

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -41.10, a price-to-earnings-growth ratio of 0.52 and a beta of 2.87. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The business has a 50-day moving average price of $10.77 and a 200-day moving average price of $7.75.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. As a group, equities analysts anticipate that Digital Turbine, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Digital Turbine in the 2nd quarter valued at approximately $56,000. Allworth Financial LP grew its position in Digital Turbine by 42.4% during the 2nd quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock worth $74,000 after purchasing an additional 1,696 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine during the 4th quarter valued at $44,000. Essential Partners LLC lifted its holdings in shares of Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after purchasing an additional 5,652 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in shares of Digital Turbine in the first quarter valued at $35,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc is a mobile advertising and application growth company that provides technology for advertisers, mobile operators, device manufacturers and app publishers. Its platform helps businesses promote, distribute and monetize mobile applications and digital content across smartphones and other connected devices.

The company’s offerings include on-device app discovery and recommendation tools, advertising inventory and exchange services, and technologies that support app installation and user engagement.