Digital Turbine (NASDAQ:APPS) Price Target Cut to $3.00

Digital Turbine (NASDAQ:APPS) had its price target decreased by Roth Mkm from $4.50 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. Roth Mkm currently has a neutral rating on the software maker’s stock.

Several other equities research analysts have also recently issued reports on APPS. Craig Hallum cut their target price on Digital Turbine from $12.00 to $10.00 and set a buy rating for the company in a research note on Thursday, February 8th. StockNews.com raised Digital Turbine from a sell rating to a hold rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $7.00.

Digital Turbine Price Performance

APPS stock opened at $2.34 on Wednesday. The business has a fifty day moving average of $2.26 and a two-hundred day moving average of $4.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The stock has a market cap of $238.73 million, a price-to-earnings ratio of -1.19, a price-to-earnings-growth ratio of 5.83 and a beta of 2.54. Digital Turbine has a 52-week low of $1.78 and a 52-week high of $14.61.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently modified their holdings of APPS. Greenhaven Road Investment Management L.P. grew its stake in shares of Digital Turbine by 244.9% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 1,940,020 shares of the software maker’s stock valued at $13,308,000 after buying an additional 1,377,587 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Digital Turbine in the first quarter valued at $2,177,000. Assenagon Asset Management S.A. purchased a new position in Digital Turbine in the third quarter valued at $3,557,000. Vanguard Group Inc. boosted its holdings in Digital Turbine by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,790,615 shares of the software maker’s stock valued at $87,744,000 after purchasing an additional 543,160 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in Digital Turbine by 14.4% in the first quarter. Rice Hall James & Associates LLC now owns 1,980,843 shares of the software maker’s stock valued at $5,190,000 after purchasing an additional 249,832 shares during the period. 63.66% of the stock is owned by institutional investors and hedge funds.

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.