Digital Turbine (NASDAQ:APPS) Stock Falls 13.1% – Time to Sell?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) were down 13.1% during trading on Friday. The stock traded as low as $8.45 and last traded at $9.1890. Approximately 1,414,813 shares traded hands during trading, a decline of 62% from the average daily volume of 3,770,605 shares. The stock had previously closed at $10.57.

Analysts Set New Price Targets

APPS has been the topic of a number of research reports. Benchmark boosted their target price 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. Northland Securities assumed coverage on Digital Turbine in a report on Thursday. They set an “outperform” rating and a $17.00 target price for the company. Royal Bank Of Canada started coverage on shares of Digital Turbine in a report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Wall Street Zen raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.42.

Digital Turbine Stock Down 17.3%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.06 billion, a P/E ratio of -33.75, a price-to-earnings-growth ratio of 0.47 and a beta of 3.02. The company has a 50-day moving average of $10.77 and a two-hundred day moving average of $7.52.

Digital Turbine (NASDAQ:APPS) last issued its 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. The company had revenue of $165.98 million for the quarter, compared to analysts’ expectations of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, research analysts predict that Digital Turbine, Inc. will post 0.68 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. AIGH Capital Management LLC acquired a new stake in Digital Turbine during the 1st quarter worth about $14,100,000. Dimensional Fund Advisors LP raised its holdings in shares of Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after acquiring an additional 846,116 shares during the period. Granahan Investment Management LLC increased its stake in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after acquiring an additional 762,888 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Digital Turbine by 17.4% in the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after acquiring an additional 535,169 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Digital Turbine in the 1st quarter valued at about $1,283,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.