Analysts predict that Digital Turbine Inc (NASDAQ:APPS) will post earnings of $0.02 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Digital Turbine’s earnings. The highest EPS estimate is $0.02 and the lowest is $0.01. Digital Turbine posted earnings per share of ($0.01) during the same quarter last year, which would indicate a positive year over year growth rate of 300%. The company is expected to announce its next earnings results on Thursday, August 8th.
On average, analysts expect that Digital Turbine will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.17. For the next financial year, analysts anticipate that the firm will post earnings of $0.15 per share, with EPS estimates ranging from $0.13 to $0.17. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Digital Turbine.
A number of research firms recently weighed in on APPS. Zacks Investment Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 9th. BidaskClub lowered Digital Turbine from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. National Securities reiterated a “buy” rating and set a $4.50 target price on shares of Digital Turbine in a report on Tuesday, June 4th. B. Riley reissued a “buy” rating and issued a $4.00 price target (up previously from $2.90) on shares of Digital Turbine in a research note on Tuesday, February 26th. Finally, LADENBURG THALM/SH SH lifted their price target on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $4.97.
Shares of APPS opened at $4.46 on Friday. Digital Turbine has a 1 year low of $1.12 and a 1 year high of $4.96. The company has a market capitalization of $359.41 million, a PE ratio of 89.10 and a beta of 1.67.
In related news, Director Paul M. Schaeffer sold 150,000 shares of Digital Turbine stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $4.47, for a total value of $670,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul M. Schaeffer sold 31,847 shares of Digital Turbine stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total transaction of $144,585.38. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
A number of large investors have recently made changes to their positions in APPS. Vanguard Group Inc lifted its holdings in shares of Digital Turbine by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 2,847,934 shares of the software maker’s stock worth $3,532,000 after acquiring an additional 12,400 shares during the last quarter. Bailard Inc. purchased a new position in shares of Digital Turbine during the fourth quarter valued at about $210,000. Lindbrook Capital LLC purchased a new position in shares of Digital Turbine during the fourth quarter valued at about $241,000. BlackRock Inc. boosted its stake in Digital Turbine by 5.1% during the fourth quarter. BlackRock Inc. now owns 349,869 shares of the software maker’s stock worth $640,000 after acquiring an additional 16,845 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Digital Turbine by 66.1% during the fourth quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock worth $83,000 after acquiring an additional 18,102 shares in the last quarter. 27.95% of the stock is owned by hedge funds and other institutional investors.
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.
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