Digital Turbine price target lowered to $25 from $30 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the firm’s price target on Digital Turbine to $25 from $30 and keeps a Buy rating on the shares. The weakening Ad market and a 20% drop year-over-year in smartphone activations from Digital Turbine’s two biggest customers hurt the quarter and guide. While the firm expected weakness, Craig-Hallum didn’t expect the degree of the activation drop off and impact to revenues. Moreover, while ad impressions for Digital Turbine were relatively flat sequentially in the December quarter, pricing dropped 10%-20%.