Analysts Expect Digital Turbine Inc (APPS) Will Post Quarterly Sales of $31.09 Million

Wall Street analysts expect Digital Turbine Inc (NASDAQ:APPS) to announce sales of $31.09 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Digital Turbine’s earnings, with the lowest sales estimate coming in at $30.98 million and the highest estimate coming in at $31.30 million. Digital Turbine reported sales of $22.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.5%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, February 7th.

On average, analysts expect that Digital Turbine will report full-year sales of $31.09 million for the current financial year, with estimates ranging from $113.96 million to $114.14 million. For the next fiscal year, analysts anticipate that the company will report sales of $135.50 million per share, with estimates ranging from $131.65 million to $140.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Digital Turbine.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $27.90 million for the quarter, compared to analyst estimates of $26.96 million. Digital Turbine had a negative net margin of 20.41% and a negative return on equity of 23.85%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS.

APPS has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Tuesday, January 9th. Roth Capital reiterated a “buy” rating on shares of Digital Turbine in a report on Monday, December 4th. ValuEngine lowered shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, B. Riley reiterated a “buy” rating and set a $2.00 price objective (up from $1.40) on shares of Digital Turbine in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1.85.

In related news, CEO William Gordon Stone III acquired 50,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $1.56 per share, for a total transaction of $78,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. acquired a new stake in Digital Turbine during the 3rd quarter worth approximately $101,000. Granahan Investment Management Inc. MA acquired a new stake in Digital Turbine in the third quarter valued at approximately $350,000. EAM Investors LLC acquired a new stake in Digital Turbine in the third quarter valued at approximately $465,000. Essex Investment Management Co. LLC acquired a new stake in Digital Turbine in the third quarter valued at approximately $665,000. Finally, Trellus Management Company LLC grew its position in Digital Turbine by 16.8% in the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock valued at $1,058,000 after acquiring an additional 100,689 shares in the last quarter. 20.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine (NASDAQ APPS) opened at $1.94 on Tuesday. Digital Turbine has a 1-year low of $0.69 and a 1-year high of $2.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78.

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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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