Digital Turbine (NASDAQ:APPS – Get Rating) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11-0.13 for the period, compared to the consensus earnings per share estimate of $0.22. The company issued revenue guidance of $140-145 million, compared to the consensus revenue estimate of $148.53 million.
Analysts Set New Price Targets
APPS has been the topic of several research analyst reports. B. Riley lowered their price target on shares of Digital Turbine from $12.00 to $9.00 and set a neutral rating on the stock in a report on Monday, March 13th. Craig Hallum lowered their price target on shares of Digital Turbine from $25.00 to $20.00 in a report on Thursday. Oppenheimer cut shares of Digital Turbine from an outperform rating to a market perform rating in a report on Thursday, February 9th. StockNews.com initiated coverage on shares of Digital Turbine in a report on Thursday, May 18th. They issued a sell rating on the stock. Finally, Bank of America lowered their price target on shares of Digital Turbine from $16.00 to $13.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $14.71.
Digital Turbine Stock Down 43.0 %
Shares of APPS opened at $8.23 on Friday. Digital Turbine has a 12 month low of $8.10 and a 12 month high of $27.03. The firm’s 50 day moving average is $12.09 and its 200-day moving average is $13.90. The stock has a market capitalization of $816.42 million, a PE ratio of 51.44, a P/E/G ratio of 1.54 and a beta of 2.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.70.
Insider Transactions at Digital Turbine
Institutional Investors Weigh In On Digital Turbine
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Digital Turbine during the 4th quarter worth approximately $13,125,000. Vanguard Group Inc. grew its stake in shares of Digital Turbine by 8.6% during the third quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock worth $153,461,000 after buying an additional 843,856 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Digital Turbine by 178.1% during the first quarter. Dimensional Fund Advisors LP now owns 921,215 shares of the software maker’s stock worth $11,385,000 after buying an additional 589,981 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Digital Turbine during the first quarter worth $21,530,000. Finally, Bank of America Corp DE grew its stake in shares of Digital Turbine by 637.2% during the first quarter. Bank of America Corp DE now owns 549,644 shares of the software maker’s stock worth $6,794,000 after buying an additional 475,081 shares during the last quarter. 62.45% of the stock is currently owned by institutional investors and hedge funds.
Digital Turbine Company Profile
Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).
- Get a free copy of the StockNews.com research report on Digital Turbine (APPS)
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