Digital Turbine (NASDAQ:APPS) Updates Q1 Earnings Guidance

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

In other Digital Turbine news, Director Robert M. Deutschman bought 15,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $9.80 per share, with a total value of $147,000.00. Following the completion of the acquisition, the director now owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Digital Turbine news, Director Robert M. Deutschman purchased 15,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $9.80 per share, for a total transaction of $147,000.00. Following the purchase, the director now owns 289,017 shares in the company, valued at approximately $2,832,366.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Gordon Stone III sold 36,025 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $10.75, for a total value of $387,268.75. Following the transaction, the chief executive officer now directly owns 1,682,789 shares of the company’s stock, valued at approximately $18,089,981.75. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

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

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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).