Digital Turbine (NASDAQ:APPS) Price Target Cut to $5.00

Digital Turbine (NASDAQ:APPS) had its target price reduced by Craig Hallum from $10.00 to $5.00 in a research note released on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the software maker’s stock.

Other research analysts have also recently issued reports about the stock. Roth Mkm reduced their price target on shares of Digital Turbine from $4.50 to $3.00 and set a neutral rating on the stock in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Digital Turbine from a sell rating to a hold rating in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $5.17.

Digital Turbine Trading Down 2.6 %

Shares of APPS stock opened at $1.89 on Wednesday. The stock has a market cap of $193.74 million, a price-to-earnings ratio of -0.46, a price-to-earnings-growth ratio of 2.71 and a beta of 2.54. The company has a quick ratio of 1.07, a current ratio of 1.03 and a debt-to-equity ratio of 1.79. Digital Turbine has a fifty-two week low of $1.78 and a fifty-two week high of $11.46. The firm’s 50 day moving average price is $2.16 and its two-hundred day moving average price is $3.99.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently made changes to their positions in APPS. Quadrature Capital Ltd bought a new stake in shares of Digital Turbine in the first quarter worth $28,000. Pineridge Advisors LLC bought a new stake in shares of Digital Turbine in the fourth quarter worth $34,000. GAMMA Investing LLC bought a new stake in shares of Digital Turbine in the fourth quarter worth $43,000. New Mexico Educational Retirement Board bought a new stake in shares of Digital Turbine in the first quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Digital Turbine in the first quarter worth $55,000. 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.