Digital Turbine (NASDAQ:APPS) Stock Price Down 5% – Should You Sell?

Digital Turbine, Inc. (NASDAQ:APPS) shares were down 5% during trading on Wednesday . The stock traded as low as $5.84 and last traded at $5.7350. Approximately 623,264 shares changed hands during trading, a decline of 88% from the average daily volume of 5,203,005 shares. The stock had previously closed at $6.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APPS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Turbine in a research note on Tuesday. Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Craig Hallum reissued a “buy” rating and set a $10.00 price target on shares of Digital Turbine in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Digital Turbine Trading Down 6.5%

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. The business has a 50 day moving average price of $5.90 and a 200-day moving average price of $5.19. The firm has a market capitalization of $633.64 million, a PE ratio of -7.74, a P/E/G ratio of 1.74 and a beta of 2.55.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. The business had revenue of $140.38 million during the quarter, compared to analysts’ expectations of $142.00 million. Analysts expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 valued at $156,000 after purchasing an additional 2,449 shares during the last quarter. Legal & General Group Plc boosted its stake in Digital Turbine by 31.6% during the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock valued at $63,000 after purchasing an additional 2,550 shares during the period. Osaic Holdings Inc. grew its holdings in Digital Turbine by 22.5% in the 2nd quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock valued at $107,000 after buying an additional 3,322 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Digital Turbine in the 3rd quarter worth approximately $31,000. Finally, Creative Planning increased its position in Digital Turbine by 39.2% in the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after buying an additional 5,991 shares during the period. Institutional investors own 63.66% of the company’s stock.

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.