Craig Hallum Lowers Digital Turbine (NASDAQ:APPS) Price Target to $4.00

Digital Turbine (NASDAQ:APPS) had its target price cut by investment analysts at Craig Hallum from $5.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price objective indicates a potential upside of 124.72% from the stock’s current price.

Separately, Macquarie reduced their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday.

Digital Turbine Stock Down 45.1 %

APPS stock traded down $1.46 during midday trading on Thursday, hitting $1.78. The stock had a trading volume of 21,052,875 shares, compared to its average volume of 2,937,802. Digital Turbine has a 52-week low of $1.39 and a 52-week high of $7.32. The business has a 50-day moving average of $3.07 and a two-hundred day moving average of $2.50. The firm has a market cap of $182.95 million, a price-to-earnings ratio of -0.41, a price-to-earnings-growth ratio of 9.61 and a beta of 2.59. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.05 and a quick ratio of 1.05.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Digital Turbine had a negative net margin of 84.71% and a positive return on equity of 5.37%. The company had revenue of $117.99 million for the quarter, compared to the consensus estimate of $115.23 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. As a group, equities research analysts forecast that Digital Turbine will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in APPS. Brooktree Capital Management lifted its position in shares of Digital Turbine by 7.4% during the third quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock worth $1,122,000 after purchasing an additional 25,061 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Digital Turbine by 33.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 210,370 shares of the software maker’s stock valued at $646,000 after purchasing an additional 52,640 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in shares of Digital Turbine during the third quarter worth about $405,000. Perkins Capital Management Inc. increased its stake in Digital Turbine by 17.7% in the 3rd quarter. Perkins Capital Management Inc. now owns 216,200 shares of the software maker’s stock valued at $664,000 after buying an additional 32,500 shares during the period. Finally, P.A.W. Capital Corp boosted its stake in shares of Digital Turbine by 87.5% in the third quarter. P.A.W. Capital Corp now owns 150,000 shares of the software maker’s stock valued at $460,000 after buying an additional 70,000 shares in the last quarter. 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.