$0.02 Earnings Per Share Expected for Digital Turbine Inc (APPS) This Quarter

Wall Street brokerages expect Digital Turbine Inc (NASDAQ:APPS) to post $0.02 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Digital Turbine’s earnings, with estimates ranging from $0.01 to $0.02. Digital Turbine reported earnings per share of ($0.01) in the same quarter last year, which suggests a positive year-over-year growth rate of 300%. The company is scheduled to issue its next earnings report on Tuesday, June 11th.

According to Zacks, analysts expect that Digital Turbine will report full year earnings of $0.07 per share for the current financial year, with EPS estimates ranging from $0.06 to $0.08. For the next year, analysts anticipate that the firm will post earnings of $0.12 per share, with EPS estimates ranging from $0.08 to $0.18. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Digital Turbine.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The firm had revenue of $30.41 million during the quarter, compared to analysts’ expectations 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 $2.50 target price on the stock in a report on Monday, February 4th. B. Riley reissued a “buy” rating and set a $4.00 price target (up previously from $2.90) on shares of Digital Turbine in a research report on Tuesday, February 26th. Finally, ValuEngine raised Digital Turbine from a “hold” rating to a “buy” rating in a research report on Friday, January 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $3.50.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its holdings in 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 purchasing an additional 12,400 shares during the period. Bailard Inc. bought a new position in shares of Digital Turbine during the 4th quarter worth about $210,000. Russell Investments Group Ltd. bought a new position in shares of Digital Turbine during the 3rd quarter worth about $178,000. B. Riley Financial Inc. boosted its position 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 purchasing an additional 55,000 shares in the last quarter. Finally, United Services Automobile Association boosted its position in shares of Digital Turbine by 7.0% during the 3rd quarter. United Services Automobile Association now owns 1,480,187 shares of the software maker’s stock worth $1,835,000 after purchasing an additional 97,240 shares in the last quarter. Institutional investors and hedge funds own 18.34% of the company’s stock.

Shares of NASDAQ:APPS traded up $0.10 during midday trading on Friday, hitting $3.82. The company had a trading volume of 10,852 shares, compared to its average volume of 1,460,816. 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 firm has a market capitalization of $300.14 million, a P/E ratio of -42.00 and a beta of 1.78. Digital Turbine has a 12 month low of $1.12 and a 12 month high of $3.97.

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

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