Digital Turbine (NASDAQ:APPS) Trading Down 6.2% - Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was down 6.2% during trading on Tuesday . The stock traded as low as $5.57 and last traded at $5.57. Approximately 2,900,181 shares were traded during mid-day 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

Several analysts have recently weighed in on the company. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Craig Hallum lifted their price objective on Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th.

Digital Turbine Trading Down 4.9%

The company has a 50 day moving average of $4.83 and a 200 day moving average of $3.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The firm has a market cap of $604.44 million, a price-to-earnings ratio of -6.35 and a beta of 2.57.

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

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Digital Turbine by 74.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker's stock valued at $2,774,000 after purchasing an additional 437,310 shares during the last quarter. DLD Asset Management LP acquired a new position in shares of Digital Turbine during the first quarter worth about $272,000. Strs Ohio acquired a new position in Digital Turbine during the first quarter valued at approximately $41,000. S Squared Technology LLC boosted its position in Digital Turbine by 241.2% during the first quarter. S Squared Technology LLC now owns 730,326 shares of the software maker's stock valued at $1,983,000 after purchasing an additional 516,266 shares during the last quarter. Finally, Tenzing Global Management LLC acquired a new position in Digital Turbine during the first quarter valued at approximately $950,000. Institutional investors own 63.66% of the company's stock.

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.

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