Digital Turbine, Inc. (APPS) Expected to Announce Quarterly Sales of $26.94 Million
Wall Street brokerages expect that Digital Turbine, Inc. (NASDAQ:APPS) will post $26.94 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Digital Turbine’s earnings. The highest sales estimate is $27.00 million and the lowest is $26.90 million. Digital Turbine posted sales of $22.83 million during the same quarter last year, which would suggest a positive year over year growth rate of 18%. The firm is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Digital Turbine will report full year sales of $26.94 million for the current year, with estimates ranging from $108.34 million to $115.10 million. For the next fiscal year, analysts forecast that the business will post sales of $141.00 million 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 ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. The business had revenue of $26.10 million for the quarter, compared to analyst estimates of $24.46 million. During the same quarter last year, the firm earned ($0.11) EPS.
Several research firms recently commented on APPS. B. Riley reaffirmed a “buy” rating and set a $1.40 target price on shares of Digital Turbine in a research note on Monday, August 14th. ValuEngine raised Digital Turbine from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 1st. Roth Capital set a $1.00 target price on Digital Turbine and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research note on Tuesday, July 4th. Finally, Ladenburg Thalmann Financial Services increased their price target on Digital Turbine from $1.25 to $2.00 and gave the stock a “buy” rating in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Digital Turbine currently has a consensus rating of “Buy” and a consensus price target of $1.43.
Shares of Digital Turbine (NASDAQ APPS) opened at 1.37 on Thursday. The firm’s market cap is $91.25 million. The company has a 50-day moving average price of $1.16 and a 200-day moving average price of $1.05. Digital Turbine has a 12 month low of $0.56 and a 12 month high of $1.40.
In other news, CEO William Gordon Stone III purchased 126,400 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $1.12 per share, for a total transaction of $141,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Weiss Multi Strategy Advisers LLC bought a new position in shares of Digital Turbine in the first quarter valued at approximately $188,000. Carleon Capital Partners LLC bought a new position in shares of Digital Turbine in the second quarter valued at approximately $2,673,000. Unterberg Capital LLC bought a new position in shares of Digital Turbine in the second quarter valued at approximately $412,000. Trellus Management Company LLC lifted its holdings 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 purchasing an additional 83,675 shares in the last quarter. Finally, White Pine Capital LLC lifted its holdings in shares of Digital Turbine by 23.2% in the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after purchasing an additional 136,800 shares in the last quarter. Institutional investors own 19.20% of the company’s stock.
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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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