Wall Street analysts forecast that Digital Turbine Inc (NASDAQ:APPS) will announce earnings of $0.02 per share for the current quarter, Zacks reports. Two analysts have made estimates for Digital Turbine’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.02. Digital Turbine posted earnings of ($0.01) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 300%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 8th.
According to Zacks, 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 financial year, analysts forecast that the company will report earnings of $0.15 per share, with EPS estimates ranging from $0.13 to $0.17. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Digital Turbine.
APPS has been the subject of several research reports. Craig Hallum set a $6.00 price objective on shares of Digital Turbine and gave the company a “buy” rating in a research report on Tuesday, June 4th. LADENBURG THALM/SH SH raised their price objective on shares of Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Tuesday, April 16th. B. Riley reiterated a “buy” rating and set a $4.00 price target (up previously from $2.90) on shares of Digital Turbine in a research note on Tuesday, February 26th. Finally, National Securities restated a “buy” rating and issued a $4.50 target price on shares of Digital Turbine in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $4.97.
In other news, Director Paul M. Schaeffer sold 31,847 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total value of $144,585.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul M. Schaeffer sold 150,000 shares of the business’s stock in a transaction on 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.
Several large investors have recently modified their holdings of APPS. BlackRock Inc. boosted its stake in shares of Digital Turbine by 266.0% in the 1st quarter. BlackRock Inc. now owns 1,280,463 shares of the software maker’s stock valued at $4,481,000 after purchasing an additional 930,594 shares in the last quarter. Roubaix Capital LLC acquired a new stake in shares of Digital Turbine in the 1st quarter valued at $1,777,000. EAM Global Investors LLC boosted its stake in shares of Digital Turbine by 430.1% in the 1st quarter. EAM Global Investors LLC now owns 505,546 shares of the software maker’s stock valued at $1,769,000 after purchasing an additional 410,172 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in shares of Digital Turbine in the 4th quarter valued at $678,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Digital Turbine by 104.7% in the 1st quarter. Acadian Asset Management LLC now owns 618,661 shares of the software maker’s stock valued at $2,165,000 after purchasing an additional 316,396 shares in the last quarter. Institutional investors own 27.95% of the company’s stock.
Shares of NASDAQ:APPS traded up $0.03 during trading hours on Friday, hitting $4.72. 1,194,773 shares of the company’s stock traded hands, compared to its average volume of 1,226,940. Digital Turbine has a 52 week low of $1.12 and a 52 week high of $4.96. The firm has a market cap of $379.01 million, a price-to-earnings ratio of 94.40 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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