Wall Street analysts expect Digital Turbine Inc (NASDAQ:APPS) to report earnings per share (EPS) of $0.04 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Digital Turbine’s earnings. The lowest EPS estimate is $0.03 and the highest is $0.04. Digital Turbine reported earnings of $0.01 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 300%. The firm is expected to report its next earnings results on Monday, November 4th.
On average, analysts expect that Digital Turbine will report full year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.21. For the next fiscal year, analysts forecast that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.19 to $0.27. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Digital Turbine.
Digital Turbine (NASDAQ:APPS) last issued its earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. The business had revenue of $30.55 million for the quarter, compared to analyst estimates of $28.39 million.
Several research firms have commented on APPS. National Securities reissued a “buy” rating and issued a $4.50 price objective on shares of Digital Turbine in a research report on Tuesday, June 4th. ValuEngine upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Canaccord Genuity assumed coverage on Digital Turbine in a research note on Thursday, June 27th. They set a “buy” rating and a $6.00 target price for the company. LADENBURG THALM/SH SH raised their target price on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, B. Riley raised their target price on Digital Turbine from $6.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $5.56.
NASDAQ:APPS traded down $0.34 during mid-day trading on Thursday, hitting $6.02. The company had a trading volume of 161,965 shares, compared to its average volume of 2,037,231. The business has a fifty day simple moving average of $5.40. Digital Turbine has a 1 year low of $1.12 and a 1 year high of $6.98. The company has a market capitalization of $543.72 million, a price-to-earnings ratio of 121.20 and a beta of 1.83.
In related news, Director Paul M. Schaeffer sold 31,847 shares of Digital Turbine stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.54, for a total value of $144,585.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of Digital Turbine stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $4.47, for a total value of $670,500.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of APPS. BlackRock Inc. grew its stake in Digital Turbine by 298.8% in the second quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock worth $25,529,000 after purchasing an additional 3,825,466 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Digital Turbine in the second quarter worth about $5,204,000. Vanguard Group Inc. grew its stake in Digital Turbine by 35.9% in the second quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock worth $17,802,000 after purchasing an additional 940,198 shares in the last quarter. Invesco Ltd. acquired a new position in Digital Turbine in the second quarter worth about $2,847,000. Finally, Calamos Advisors LLC acquired a new position in Digital Turbine in the second quarter worth about $2,185,000. Institutional investors and hedge funds own 27.19% 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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