$26.55 Million in Sales Expected for Digital Turbine Inc (APPS) This Quarter

Equities research analysts expect Digital Turbine Inc (NASDAQ:APPS) to post sales of $26.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Digital Turbine’s earnings, with the highest sales estimate coming in at $26.60 million and the lowest estimate coming in at $26.50 million. Digital Turbine posted sales of $20.96 million in the same quarter last year, which would indicate a positive year over year growth rate of 26.7%. The company is scheduled to announce its next earnings results on Tuesday, June 11th.

On average, analysts expect that Digital Turbine will report full-year sales of $102.94 million for the current year, with estimates ranging from $102.88 million to $103.00 million. For the next financial year, analysts expect that the firm will report sales of $123.46 million, with estimates ranging from $121.30 million to $125.61 million. Zacks’ sales averages are an average based on a survey of analysts that cover Digital Turbine.

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

Several research analysts have weighed in on APPS shares. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, January 23rd. ValuEngine upgraded Digital Turbine from a “hold” rating to a “buy” rating in a report on Friday, January 4th. Finally, B. Riley reiterated a “buy” rating and issued a $4.00 price target (up from $2.90) on shares of Digital Turbine in a report on Tuesday, February 26th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $3.50.

Shares of APPS opened at $3.56 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $275.00 million, a price-to-earnings ratio of -39.56 and a beta of 1.78. Digital Turbine has a fifty-two week low of $1.12 and a fifty-two week high of $3.97.

Hedge funds have recently added to or reduced their stakes in the company. B. Riley Financial Inc. increased its holdings in shares of Digital Turbine by 506.9% during the 3rd quarter. B. Riley Financial Inc. now owns 65,850 shares of the software maker’s stock worth $82,000 after buying an additional 55,000 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Digital Turbine during the 4th quarter worth $83,000. Bank of New York Mellon Corp increased its holdings in shares of Digital Turbine by 66.1% during the 4th quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock worth $83,000 after buying an additional 18,102 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Digital Turbine during the 3rd quarter worth $178,000. Finally, Bailard Inc. acquired a new stake in shares of Digital Turbine during the 4th quarter worth $210,000. Institutional investors and hedge funds own 18.34% of the company’s stock.

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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Earnings History and Estimates for Digital Turbine (NASDAQ:APPS)

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