Digital Turbine, Inc. Forecasted to Earn FY2019 Earnings of ($0.11) Per Share (APPS)
Digital Turbine, Inc. (NASDAQ:APPS) – Equities researchers at B. Riley decreased their FY2019 earnings estimates for Digital Turbine in a research report issued to clients and investors on Monday. B. Riley analyst S. Sinha now expects that the software maker will post earnings per share of ($0.11) for the year, down from their previous estimate of $0.11. B. Riley currently has a “Buy” rating and a $2.00 target price on the stock.
Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative net margin of 22.54% and a negative return on equity of 31.91%. The company had revenue of $27.90 million for the quarter, compared to analyst estimates of $26.96 million. During the same quarter last year, the business earned ($0.11) earnings per share. Digital Turbine’s revenue was up 22.4% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Digital Turbine, Inc. Forecasted to Earn FY2019 Earnings of ($0.11) Per Share (APPS)” was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/08/digital-turbine-inc-forecasted-to-earn-fy2019-earnings-of-0-11-per-share-apps.html.
APPS has been the topic of several other research reports. ValuEngine upgraded shares of Digital Turbine from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Roth Capital set a $1.00 price target on shares of Digital Turbine and gave the company a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Digital Turbine currently has a consensus rating of “Buy” and an average target price of $1.55.
Shares of Digital Turbine (NASDAQ APPS) traded up $0.01 during trading hours on Wednesday, hitting $1.58. 294,710 shares of the company’s stock traded hands, compared to its average volume of 440,016. Digital Turbine has a 12 month low of $0.59 and a 12 month high of $1.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25.
In related news, CEO William Gordon Stone III acquired 126,400 shares of the stock in a transaction that occurred 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Unterberg Capital LLC acquired a new position in shares of Digital Turbine during the second quarter valued at approximately $412,000. Essex Investment Management Co. LLC bought a new stake in Digital Turbine during the third quarter worth approximately $665,000. White Pine Capital LLC boosted its holdings in Digital Turbine by 23.2% during the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock worth $747,000 after buying an additional 136,800 shares in the last quarter. Trellus Management Company LLC boosted its holdings in Digital Turbine by 16.8% during the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after buying an additional 100,689 shares in the last quarter. Finally, Carleon Capital Partners LLC bought a new stake in Digital Turbine during the second quarter worth approximately $2,673,000. Institutional investors and hedge funds own 16.96% of the company’s stock.
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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