Digital Turbine (NASDAQ:APPS) Releases Earnings Results, Misses Estimates By $0.08 EPS

Digital Turbine (NASDAQ:APPS) posted its quarterly earnings results on Wednesday. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08), Zacks reports. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%.

Digital Turbine Price Performance

APPS stock traded up $0.06 during trading on Wednesday, hitting $2.54. The company had a trading volume of 6,763,529 shares, compared to its average volume of 3,034,543. The firm has a market capitalization of $263.47 million, a price-to-earnings ratio of -0.86 and a beta of 2.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The business has a 50 day moving average of $1.85 and a 200 day moving average of $2.44. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $5.34.

Insiders Place Their Bets

In other news, Director Robert M. Deutschman bought 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $1.41 per share, with a total value of $141,000.00. Following the completion of the acquisition, the director now directly owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 21.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 127,000 shares of company stock worth $175,610. 5.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of recent research reports. Macquarie lowered 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, November 7th. Craig Hallum reduced their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.38.

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.