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

Digital Turbine (NASDAQ:APPS) had its target price decreased by Craig Hallum from $5.00 to $4.00 in a report released on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the software maker’s stock.

Separately, Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday.

Digital Turbine Stock Down 18.4 %

Shares of NASDAQ:APPS opened at $1.46 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 2.24. Digital Turbine has a 52-week low of $1.39 and a 52-week high of $7.33. The firm has a fifty day moving average of $3.00 and a 200 day moving average of $2.50.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. Digital Turbine’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share. Sell-side analysts forecast that Digital Turbine will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC increased its stake in shares of Digital Turbine by 4.1% during the third quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock valued at $6,051,000 after buying an additional 77,185 shares during the period. AQR Capital Management LLC increased its position in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock valued at $2,546,000 after purchasing an additional 755,707 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Digital Turbine in the 1st quarter worth $2,177,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Digital Turbine in the 2nd quarter worth about $725,000. Finally, Brooktree Capital Management boosted its stake in shares of Digital Turbine by 7.4% during the 3rd quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 25,061 shares in the last quarter. 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.