Digital Turbine (NASDAQ:APPS) Stock Falls 7.2% – Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS) traded down 7.2% during mid-day trading on Tuesday. The company traded as low as $10.44 and last traded at $10.4050. Approximately 2,004,809 shares were traded during trading, a decline of 49% from the average session volume of 3,916,871 shares. The stock had previously closed at $11.21.

Analysts Set New Price Targets

Several equities analysts have weighed in on APPS shares. Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Benchmark increased their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Craig Hallum restated a “buy” rating and set a $18.00 price objective on shares of Digital Turbine in a report on Wednesday, August 5th. Finally, TD Cowen restated a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.80.

Digital Turbine Stock Up 1.0%

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -41.33, a price-to-earnings-growth ratio of 0.45 and a beta of 3.02. The firm has a 50-day moving average of $11.29 and a 200 day moving average of $8.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. The firm had revenue of $165.98 million for the quarter, compared to the consensus estimate of $149.98 million. On average, sell-side analysts anticipate that Digital Turbine, Inc. will post 0.75 earnings per share for the current year.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd boosted its position in Digital Turbine by 178.7% during the 2nd quarter. WINTON GROUP Ltd now owns 121,796 shares of the software maker’s stock worth $1,571,000 after acquiring an additional 78,096 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Digital Turbine in the 2nd quarter valued at approximately $56,000. Allworth Financial LP increased its stake in shares of Digital Turbine by 42.4% in the second quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock worth $74,000 after acquiring an additional 1,696 shares during the last quarter. AXQ Capital LP lifted its holdings in shares of Digital Turbine by 81.0% during the 2nd quarter. AXQ Capital LP now owns 43,339 shares of the software maker’s stock valued at $559,000 after buying an additional 19,392 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Digital Turbine during the second quarter valued at approximately $1,282,000. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company’s products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.