Brokerages predict that Digital Turbine Inc (NASDAQ:APPS) will report sales of $28.95 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Digital Turbine’s earnings. The lowest sales estimate is $28.80 million and the highest is $29.10 million. Digital Turbine reported sales of $38.03 million in the same quarter last year, which indicates a negative year-over-year growth rate of 23.9%. The business is scheduled to announce its next earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Digital Turbine will report full-year sales of $101.34 million for the current financial year, with estimates ranging from $101.30 million to $101.38 million. For the next fiscal year, analysts forecast that the firm will report sales of $122.96 million, with estimates ranging from $120.30 million to $125.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Digital Turbine.
Several brokerages have recently issued reports on APPS. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $1.75 price target for the company in a research note on Friday, November 9th. TheStreet upgraded shares of Digital Turbine from a “d” rating to a “c” rating in a research note on Tuesday, November 6th. Finally, National Securities restated a “buy” rating and set a $3.50 price target on shares of Digital Turbine in a research note on Monday, August 13th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Digital Turbine presently has an average rating of “Buy” and a consensus target price of $2.85.
In other Digital Turbine news, Director Robert M. Deutschman acquired 25,000 shares of Digital Turbine stock in a transaction that occurred on Tuesday, September 11th. The stock was acquired at an average cost of $1.27 per share, for a total transaction of $31,750.00. Following the purchase, the director now owns 292,550 shares of the company’s stock, valued at $371,538.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in APPS. Russell Investments Group Ltd. purchased a new position in Digital Turbine in the 3rd quarter valued at approximately $178,000. JPMorgan Chase & Co. purchased a new position in Digital Turbine in the 3rd quarter valued at approximately $217,000. Acadian Asset Management LLC grew its stake in Digital Turbine by 98.8% in the 2nd quarter. Acadian Asset Management LLC now owns 243,916 shares of the software maker’s stock valued at $368,000 after buying an additional 121,211 shares in the last quarter. BlackRock Inc. grew its stake in Digital Turbine by 66.5% in the 2nd quarter. BlackRock Inc. now owns 324,099 shares of the software maker’s stock valued at $490,000 after buying an additional 129,460 shares in the last quarter. Finally, BDO Wealth Advisors LLC purchased a new position in Digital Turbine in the 2nd quarter valued at approximately $642,000. Institutional investors and hedge funds own 21.85% of the company’s stock.
Shares of APPS stock opened at $1.89 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. Digital Turbine has a 12-month low of $1.12 and a 12-month high of $2.59. The company has a market cap of $155.31 million, a PE ratio of -21.00 and a beta of 1.20.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
Recommended Story: Cost of equity and a company’s balance sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.