Digital Turbine Inc (APPS) Expected to Post Quarterly Sales of $26.55 Million

Wall Street brokerages expect Digital Turbine Inc (NASDAQ:APPS) to announce sales of $26.55 million for the current quarter, Zacks reports. Two analysts have issued estimates for Digital Turbine’s earnings. The highest sales estimate is $26.60 million and the lowest is $26.50 million. Digital Turbine posted sales of $20.96 million in the same quarter last year, which suggests a positive year over year growth rate of 26.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, June 11th.

According to Zacks, analysts expect that Digital Turbine will report full year sales of $102.94 million for the current fiscal year, with estimates ranging from $102.88 million to $103.00 million. For the next financial year, analysts anticipate that the business will post sales of $123.46 million, with estimates ranging from $121.30 million to $125.61 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Digital Turbine.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Digital Turbine had a negative net margin of 38.60% and a positive return on equity of 1.62%. The firm had revenue of $30.41 million for the quarter, compared to analysts’ expectations of $28.95 million.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Friday, January 4th. 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 set a $4.00 price objective on shares of Digital Turbine and gave the stock a “buy” rating in a research note on Tuesday, November 6th.

Several large investors have recently modified their holdings of APPS. United Services Automobile Association raised its stake in Digital Turbine by 143.8% during the 2nd quarter. United Services Automobile Association now owns 1,382,947 shares of the software maker’s stock worth $2,088,000 after acquiring an additional 815,677 shares during the period. Worth Venture Partners LLC bought a new stake in Digital Turbine during the 4th quarter worth approximately $678,000. 1492 Capital Management LLC bought a new stake in Digital Turbine during the 4th quarter worth approximately $437,000. S Squared Technology LLC raised its stake in Digital Turbine by 15.3% during the 3rd quarter. S Squared Technology LLC now owns 1,785,895 shares of the software maker’s stock worth $2,215,000 after acquiring an additional 237,000 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in Digital Turbine during the 3rd quarter worth approximately $217,000. Hedge funds and other institutional investors own 21.54% of the company’s stock.

Shares of NASDAQ:APPS traded down $0.03 during trading on Friday, hitting $2.85. The company’s stock had a trading volume of 1,132,253 shares, compared to its average volume of 1,104,225. Digital Turbine has a 12 month low of $1.12 and a 12 month high of $3.23. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $226.28 million, a PE ratio of -31.67 and a beta of 1.68.

About Digital Turbine

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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