Equities analysts expect that Digital Turbine (NASDAQ:APPS) will report sales of $30.28 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Digital Turbine’s earnings, with the highest sales estimate coming in at $31.06 million and the lowest estimate coming in at $28.78 million. Digital Turbine posted sales of $22.40 million during the same quarter last year, which suggests a positive year over year growth rate of 35.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, June 13th.
On average, analysts expect that Digital Turbine will report full year sales of $123.05 million for the current fiscal year, with estimates ranging from $123.00 million to $123.10 million. For the next financial year, analysts expect that the firm will post sales of $131.62 million per share, with estimates ranging from $128.70 million to $134.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Digital Turbine.
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Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.03). The business had revenue of $38.03 million during the quarter, compared to analysts’ expectations of $31.09 million. Digital Turbine had a negative return on equity of 22.65% and a negative net margin of 18.66%.
A number of equities analysts have commented on APPS shares. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, January 9th. B. Riley reaffirmed a “buy” rating and set a $2.50 target price on shares of Digital Turbine in a research note on Tuesday, January 30th. Finally, ValuEngine downgraded shares of Digital Turbine from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Digital Turbine currently has a consensus rating of “Buy” and a consensus target price of $2.01.
A number of hedge funds have recently modified their holdings of APPS. Unterberg Capital LLC raised its stake in Digital Turbine by 18.5% during the fourth quarter. Unterberg Capital LLC now owns 1,600,000 shares of the software maker’s stock worth $2,864,000 after purchasing an additional 250,000 shares during the period. Millennium Management LLC increased its position in shares of Digital Turbine by 178.3% during the fourth quarter. Millennium Management LLC now owns 311,196 shares of the software maker’s stock valued at $557,000 after acquiring an additional 199,392 shares during the last quarter. Lyon Street Capital LLC acquired a new stake in shares of Digital Turbine during the fourth quarter valued at about $306,000. Renaissance Technologies LLC increased its position in shares of Digital Turbine by 20.9% during the fourth quarter. Renaissance Technologies LLC now owns 945,874 shares of the software maker’s stock valued at $1,693,000 after acquiring an additional 163,700 shares during the last quarter. Finally, EAM Investors LLC increased its position in shares of Digital Turbine by 49.7% during the fourth quarter. EAM Investors LLC now owns 461,156 shares of the software maker’s stock valued at $825,000 after acquiring an additional 153,056 shares during the last quarter. 22.72% of the stock is currently owned by institutional investors.
NASDAQ:APPS opened at $1.68 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.20. Digital Turbine has a twelve month low of $0.94 and a twelve month high of $2.59.
About Digital Turbine
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, app advertisers, device original equipment manufacturers, and other third parties worldwide. It operates through two segments, Advertising and Content. The Advertising segment offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices; Discover software, which provides application installation and management, as well as detailed reporting to advertisers and carriers; and mobile user acquisition platform that allows mobile advertisers to engage with right customers for their applications.
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