Digital Turbine (NASDAQ:APPS) Trading Down 8.1% – Here’s Why

Shares of Digital Turbine, Inc. (NASDAQ:APPS) were down 8.1% during mid-day trading on Friday . The stock traded as low as $6.37 and last traded at $6.43. Approximately 1,944,598 shares were traded during trading, a decline of 63% from the average daily volume of 5,275,547 shares. The stock had previously closed at $7.00.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on APPS shares. Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $4.50 to $5.50 in a report on Wednesday, August 6th. Craig Hallum increased their target price on shares of Digital Turbine from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Digital Turbine currently has a consensus rating of “Hold” and an average price target of $5.17.

Digital Turbine Stock Down 7.9%

The firm has a market cap of $699.02 million, a price-to-earnings ratio of -8.38, a P/E/G ratio of 4.12 and a beta of 2.57. The firm’s 50 day moving average price is $5.17 and its two-hundred day moving average price is $4.74. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.09 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The business had revenue of $130.93 million for the quarter, compared to analyst estimates of $121.94 million. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%. Digital Turbine has set its FY 2026 guidance at EPS. As a group, sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in APPS. Wealth Enhancement Advisory Services LLC acquired a new stake in Digital Turbine in the first quarter valued at about $90,000. HBK Sorce Advisory LLC acquired a new stake in Digital Turbine in the first quarter valued at about $78,000. P.A.W. Capital Corp lifted its position in Digital Turbine by 175.0% in the first quarter. P.A.W. Capital Corp now owns 550,000 shares of the software maker’s stock valued at $1,493,000 after purchasing an additional 350,000 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in shares of Digital Turbine during the 1st quarter valued at approximately $128,000. Finally, Cerity Partners LLC acquired a new stake in shares of Digital Turbine during the 1st quarter valued at approximately $70,000. Institutional investors and hedge funds 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.