Digital Turbine (NASDAQ:APPS) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Digital Turbine's stock price has fallen below its 50-day moving average of $5.29, last trading at $5.15 amid significant trading volume of over 3 million shares.
• Analysts have raised their price targets for Digital Turbine, with one firm increasing it from $4.00 to $7.00 and changing the stock's rating from "hold" to "buy."
• Despite a positive earnings report reflecting $0.10 EPS and revenue above expectations, analysts predict a -0.03 EPS for Digital Turbine for the current year.

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.29 and traded as low as $5.06. Digital Turbine shares last traded at $5.15, with a volume of 3,228,832 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on APPS shares. Craig Hallum boosted their target price on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen upgraded shares of Digital Turbine from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Digital Turbine Stock Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.09 and a current ratio of 1.09. The company's fifty day moving average price is $5.35 and its two-hundred day moving average price is $4.09. The firm has a market capitalization of $552.76 million, a PE ratio of -5.75 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $119.15 million for the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities analysts expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently bought and sold shares of APPS. Harbor Capital Advisors Inc. bought a new stake in Digital Turbine during the 2nd quarter valued at approximately $12,031,000. Marshall Wace LLP bought a new stake in Digital Turbine during the 4th quarter worth approximately $1,698,000. Segall Bryant & Hamill LLC acquired a new stake in Digital Turbine in the 1st quarter valued at about $2,710,000. Vanguard Group Inc. boosted its position in Digital Turbine by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock valued at $24,080,000 after buying an additional 893,035 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. increased its position in Digital Turbine by 467.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock worth $2,785,000 after purchasing an additional 845,051 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.