Wall Street brokerages forecast that Digital Turbine Inc (NASDAQ:APPS) will post $0.02 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Digital Turbine’s earnings. The highest EPS estimate is $0.02 and the lowest is $0.01. Digital Turbine posted earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year over year growth rate of 300%. The company is scheduled to announce its next earnings report on Thursday, August 8th.
On average, analysts expect that Digital Turbine will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.10 to $0.17. For the next year, analysts anticipate that the firm will report earnings of $0.15 per share, with EPS estimates ranging from $0.13 to $0.17. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Digital Turbine.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Monday, June 3rd. The software maker reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $27.19 million for the quarter, compared to analysts’ expectations of $26.55 million. Digital Turbine had a negative net margin of 5.80% and a positive return on equity of 10.53%.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Wednesday, April 10th. Canaccord Genuity assumed coverage on shares of Digital Turbine in a research report on Thursday, June 27th. They issued a “buy” rating and a $6.00 target price for the company. LADENBURG THALM/SH SH upped their target price on shares of Digital Turbine from $4.50 to $5.10 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. B. Riley upped their target price on shares of Digital Turbine from $6.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Finally, National Securities reiterated a “buy” rating and issued a $4.50 target price on shares of Digital Turbine in a research report on Tuesday, June 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Digital Turbine has a consensus rating of “Buy” and a consensus target price of $5.56.
NASDAQ:APPS traded down $0.09 during midday trading on Monday, hitting $5.26. The company had a trading volume of 1,793,482 shares, compared to its average volume of 1,940,853. Digital Turbine has a 52-week low of $1.12 and a 52-week high of $5.41. The stock has a fifty day simple moving average of $4.44. The firm has a market cap of $429.64 million, a P/E ratio of 105.20 and a beta of 1.85.
In other Digital Turbine news, Director Paul M. Schaeffer sold 31,847 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.54, for a total transaction of $144,585.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.47, for a total transaction of $670,500.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Digital Turbine during the first quarter worth about $35,000. Cornerstone Wealth Group LLC purchased a new stake in shares of Digital Turbine during the first quarter worth about $44,000. Millennium Management LLC purchased a new stake in shares of Digital Turbine during the fourth quarter worth about $83,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 purchasing an additional 18,102 shares during the period. Finally, Sterling Investment Advisors Ltd. purchased a new stake in shares of Digital Turbine during the first quarter worth about $88,000. Institutional investors and hedge funds own 27.95% of the company’s stock.
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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