Digital Turbine (NASDAQ:APPS) Stock Price Down 6.2% - Here's Why

Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $5.57 and last traded at $5.57. Approximately 2,900,181 shares were traded during trading, a decline of 43% from the average daily volume of 5,107,767 shares. The stock had previously closed at $5.94.

Analysts Set New Price Targets

APPS has been the subject of a number of analyst reports. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Craig Hallum increased their price target on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a report on Tuesday, June 17th.

Digital Turbine Stock Performance

The firm has a fifty day moving average of $4.98 and a 200-day moving average of $3.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $543.46 million, a price-to-earnings ratio of -5.71 and a beta of 2.57.

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

Institutional Trading of Digital Turbine

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Digital Turbine during the second quarter worth $12,031,000. Goldman Sachs Group Inc. boosted its holdings in shares of Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker's stock worth $2,774,000 after purchasing an additional 437,310 shares during the last quarter. DLD Asset Management LP acquired a new stake in shares of Digital Turbine during the first quarter worth $272,000. Strs Ohio acquired a new stake in shares of Digital Turbine during the first quarter worth $41,000. Finally, S Squared Technology LLC boosted its holdings in shares of Digital Turbine by 241.2% during the first quarter. S Squared Technology LLC now owns 730,326 shares of the software maker's stock worth $1,983,000 after purchasing an additional 516,266 shares during the last quarter. 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.