Craig Hallum Has Lowered Expectations for Digital Turbine (NASDAQ:APPS) Stock Price

Digital Turbine (NASDAQ:APPS) had its price target lowered by investment analysts at Craig Hallum from $5.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price target points to a potential upside of 173.97% from the company’s current price.

Separately, Macquarie reduced their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday.

Digital Turbine Price Performance

NASDAQ:APPS opened at $1.46 on Thursday. Digital Turbine has a 52-week low of $1.39 and a 52-week high of $7.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01. The business’s 50-day moving average price is $3.00 and its 200 day moving average price is $2.50.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, August 7th. The software maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $117.99 million for the quarter, compared to the consensus estimate of $115.23 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.02%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. As a group, sell-side analysts predict that Digital Turbine will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in APPS. Blue Trust Inc. raised its stake in Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares during the period. Quadrature Capital Ltd purchased a new stake in Digital Turbine in the 1st quarter worth about $28,000. Ballentine Partners LLC acquired a new stake in Digital Turbine during the 3rd quarter worth about $43,000. SG Americas Securities LLC purchased a new position in Digital Turbine during the 2nd quarter valued at about $46,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Digital Turbine in the 1st quarter valued at about $55,000. Hedge funds and other 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.