Macquarie Lowers Digital Turbine (NASDAQ:APPS) Price Target to $40.00

Digital Turbine (NASDAQ:APPSGet Rating) had its price target lowered by Macquarie from $70.00 to $40.00 in a report issued on Wednesday, The Fly reports.

Separately, StockNews.com began coverage on Digital Turbine in a research report on Thursday, March 31st. They set a sell rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $79.80.

Shares of Digital Turbine stock opened at $25.43 on Wednesday. The stock has a 50 day moving average of $33.60 and a 200 day moving average of $44.12. Digital Turbine has a 12 month low of $21.43 and a 12 month high of $93.98. The firm has a market cap of $2.47 billion, a PE ratio of 55.28, a PEG ratio of 0.29 and a beta of 2.34. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.70.

Digital Turbine (NASDAQ:APPSGet Rating) last issued its quarterly earnings data on Tuesday, May 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Digital Turbine had a return on equity of 33.35% and a net margin of 4.58%. The business had revenue of $184.14 million for the quarter, compared to the consensus estimate of $336.45 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, equities research analysts forecast that Digital Turbine will post 1.46 earnings per share for the current fiscal year.

In other news, Director Robert M. Deutschman acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average price of $31.66 per share, with a total value of $474,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michelle M. Sterling acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average cost of $36.79 per share, for a total transaction of $36,790.00. The disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently made changes to their positions in APPS. Morgan Stanley grew its stake in Digital Turbine by 83.6% in the second quarter. Morgan Stanley now owns 876,887 shares of the software maker’s stock worth $66,670,000 after purchasing an additional 399,216 shares in the last quarter. Geode Capital Management LLC boosted its position in Digital Turbine by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,521,589 shares of the software maker’s stock valued at $104,613,000 after acquiring an additional 43,768 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Digital Turbine by 146.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,748 shares of the software maker’s stock valued at $11,326,000 after acquiring an additional 97,808 shares in the last quarter. Macquarie Group Ltd. boosted its position in Digital Turbine by 70.3% during the 3rd quarter. Macquarie Group Ltd. now owns 3,060 shares of the software maker’s stock valued at $210,000 after acquiring an additional 1,263 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Digital Turbine by 114.2% during the 3rd quarter. Hsbc Holdings PLC now owns 19,610 shares of the software maker’s stock valued at $1,353,000 after acquiring an additional 10,453 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

About Digital Turbine (Get Rating)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, publishers, device original equipment manufacturers (OEMs), and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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