Brokerages Anticipate Digital Turbine, Inc. (APPS) Will Post Quarterly Sales of $24.94 Million
Analysts forecast that Digital Turbine, Inc. (NASDAQ:APPS) will announce sales of $24.94 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Digital Turbine’s earnings, with the highest sales estimate coming in at $25.00 million and the lowest estimate coming in at $24.91 million. Digital Turbine posted sales of $24.04 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The firm is expected to issue its next earnings report on Monday, August 7th.
On average, analysts expect that Digital Turbine will report full year sales of $24.94 million for the current financial year, with estimates ranging from $108.34 million to $120.00 million. For the next financial year, analysts expect that the firm will report sales of $0.00 per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Digital Turbine.
Digital Turbine (NASDAQ:APPS) last announced its earnings results on Monday, August 7th. The software maker reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. Digital Turbine had a negative net margin of 26.59% and a negative return on equity of 38.00%. The business had revenue of $26.10 million during the quarter, compared to the consensus estimate of $24.46 million. During the same quarter last year, the firm earned ($0.11) earnings per share.
A number of equities research analysts have recently issued reports on APPS shares. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Wednesday, June 28th. B. Riley reissued a “buy” rating and set a $1.40 price target on shares of Digital Turbine in a research report on Sunday, June 18th. Ladenburg Thalmann Financial Services increased their price target on shares of Digital Turbine from $1.25 to $2.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Craig Hallum raised shares of Digital Turbine from a “hold” rating to a “buy” rating and increased their price target for the company from $1.10 to $1.50 in a research report on Tuesday, April 25th. Finally, Roth Capital set a $1.00 price target on shares of Digital Turbine and gave the company a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $1.43.
A number of large investors have recently made changes to their positions in APPS. Carleon Capital Partners LLC purchased a new stake in shares of Digital Turbine during the second quarter valued at $2,673,000. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Digital Turbine during the first quarter valued at $188,000. Trellus Management Company LLC boosted its stake in shares of Digital Turbine by 16.2% in the second quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after buying an additional 83,675 shares during the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in shares of Digital Turbine by 1.2% in the first quarter. Perkins Capital Management Inc. now owns 898,080 shares of the software maker’s stock valued at $844,000 after buying an additional 11,000 shares during the last quarter. 17.18% of the stock is owned by institutional investors and hedge funds.
Digital Turbine (NASDAQ APPS) opened at 1.10 on Tuesday. The company’s 50-day moving average is $1.06 and its 200-day moving average is $0.96. Digital Turbine has a 52 week low of $0.56 and a 52 week high of $1.55. The company’s market cap is $73.26 million.
About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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