Digital Turbine (NASDAQ:APPS) Price Target Lowered to $2.00 at Macquarie

Digital Turbine (NASDAQ:APPS) had its price objective trimmed by Macquarie from $3.00 to $2.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Digital Turbine Stock Down 18.4 %

Digital Turbine stock opened at $1.46 on Thursday. The firm has a market cap of $151.44 million, a price-to-earnings ratio of -0.49, a PEG ratio of 10.02 and a beta of 2.59. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.01. Digital Turbine has a 12 month low of $1.39 and a 12 month high of $7.33. The stock has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $2.50.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $117.99 million during the quarter, compared to analyst estimates of $115.23 million. Digital Turbine had a positive return on equity of 3.02% and a negative net margin of 61.17%. Digital Turbine’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. Equities analysts predict that Digital Turbine will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPS. The Manufacturers Life Insurance Company grew its holdings in shares of Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after acquiring an additional 3,695 shares during the period. Blue Trust Inc. increased its position in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Digital Turbine by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock worth $254,000 after purchasing an additional 5,734 shares during the period. Point72 DIFC Ltd boosted its holdings in shares of Digital Turbine by 18.4% in the second quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock worth $74,000 after buying an additional 6,936 shares during the last quarter. Finally, US Bancorp DE grew its position in Digital Turbine by 37.7% during the third quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after buying an additional 7,266 shares during the period. Hedge funds and other 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.