Digital Turbine (NASDAQ:APPS) Announces Quarterly Earnings Results

Digital Turbine (NASDAQ:APPS) released its quarterly earnings data on Tuesday. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04, Zacks reports. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%.

Digital Turbine Trading Down 6.2%

APPS stock traded down $0.39 during midday trading on Tuesday, reaching $5.92. The stock had a trading volume of 4,059,277 shares, compared to its average volume of 5,103,136. The business has a fifty day simple moving average of $5.66 and a two-hundred day simple moving average of $5.06. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.63. The firm has a market cap of $661.56 million, a price-to-earnings ratio of -7.69, a PEG ratio of 3.98 and a beta of 2.55. Digital Turbine has a twelve month low of $1.18 and a twelve month high of $7.77.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after purchasing an additional 2,449 shares during the period. Legal & General Group Plc increased its position 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 worth $63,000 after purchasing an additional 2,550 shares during the period. Osaic Holdings Inc. increased its position in Digital Turbine by 22.5% in the second quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock worth $107,000 after purchasing an additional 3,322 shares during the period. Creative Planning increased its position in Digital Turbine by 39.2% in the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after purchasing an additional 5,991 shares during the period. Finally, Rhumbline Advisers increased its position in Digital Turbine by 5.3% in the second quarter. Rhumbline Advisers now owns 154,950 shares of the software maker’s stock worth $914,000 after purchasing an additional 7,749 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America upgraded Digital Turbine from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.50 to $5.50 in a research note on Wednesday, August 6th. Craig Hallum raised their target price on Digital Turbine from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.17.

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.