Equities research analysts predict that Digital Turbine Inc (NASDAQ:APPS) will announce $26.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Digital Turbine’s earnings, with estimates ranging from $26.50 million to $26.60 million. Digital Turbine posted sales of $20.96 million during the same quarter last year, which suggests a positive year over year growth rate of 26.7%. The company is scheduled to announce its next earnings report 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 fiscal year, analysts forecast that the business will report sales of $123.46 million, with estimates ranging from $121.30 million to $125.61 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Digital Turbine.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Digital Turbine from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. B. Riley restated a “buy” rating and issued a $4.00 price objective (up from $2.90) on shares of Digital Turbine in a report on Tuesday, February 26th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.00.
Several institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. grew its stake in shares of Digital Turbine by 30.4% in the first quarter. Wedbush Securities Inc. now owns 30,000 shares of the software maker’s stock valued at $105,000 after buying an additional 7,000 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Digital Turbine in the first quarter valued at about $35,000. Vanguard Group Inc grew its stake in shares of Digital Turbine by 0.4% in the third quarter. Vanguard Group Inc now owns 2,847,934 shares of the software maker’s stock valued at $3,532,000 after buying an additional 12,400 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Digital Turbine in the first quarter valued at about $44,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Digital Turbine in the first quarter valued at about $57,000. Institutional investors own 23.27% of the company’s stock.
Shares of Digital Turbine stock traded up $0.04 during trading hours on Friday, reaching $3.94. The stock had a trading volume of 616,100 shares, compared to its average volume of 1,146,106. The company has a market cap of $313.52 million, a price-to-earnings ratio of -43.78 and a beta of 1.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. Digital Turbine has a 1 year low of $1.12 and a 1 year high of $4.18.
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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