Analysts Expect Digital Turbine, Inc. (NASDAQ:APPS) Will Post Quarterly Sales of $83.00 Million

Equities analysts expect Digital Turbine, Inc. (NASDAQ:APPS) to post $83.00 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Digital Turbine’s earnings, with the lowest sales estimate coming in at $80.70 million and the highest estimate coming in at $86.82 million. Digital Turbine reported sales of $39.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 110.9%. The company is scheduled to report its next quarterly earnings report on Tuesday, June 1st.

According to Zacks, analysts expect that Digital Turbine will report full-year sales of $301.50 million for the current year, with estimates ranging from $299.20 million to $305.32 million. For the next financial year, analysts forecast that the company will report sales of $395.26 million, with estimates ranging from $383.40 million to $412.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Digital Turbine.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, February 2nd. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Digital Turbine had a return on equity of 38.26% and a net margin of 13.38%. The firm had revenue of $88.59 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 146.0% on a year-over-year basis.

APPS has been the subject of several research reports. Craig Hallum boosted their price target on Digital Turbine from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. TheStreet cut Digital Turbine from a “b” rating to a “c+” rating in a research report on Tuesday, February 9th. Roth Capital boosted their price target on Digital Turbine from $70.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Canaccord Genuity cut Digital Turbine from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a report on Monday, December 21st. Finally, Maxim Group upped their target price on Digital Turbine from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Digital Turbine has an average rating of “Buy” and a consensus target price of $64.44.

In other news, CAO David Wesch sold 25,000 shares of the company’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $88.23, for a total value of $2,205,750.00. Following the transaction, the chief accounting officer now owns 25,000 shares of the company’s stock, valued at approximately $2,205,750. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado acquired a new position in Digital Turbine during the 3rd quarter worth about $382,000. California Public Employees Retirement System lifted its stake in Digital Turbine by 10.9% during the 4th quarter. California Public Employees Retirement System now owns 213,612 shares of the software maker’s stock worth $12,082,000 after acquiring an additional 20,955 shares in the last quarter. Dorsey Wright & Associates lifted its stake in Digital Turbine by 33.4% during the 4th quarter. Dorsey Wright & Associates now owns 1,706 shares of the software maker’s stock worth $96,000 after acquiring an additional 427 shares in the last quarter. Diversified Trust Co acquired a new position in Digital Turbine during the 3rd quarter worth about $313,000. Finally, David J Yvars Group acquired a new position in Digital Turbine during the 4th quarter worth about $281,000. 60.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APPS traded up $3.87 during trading hours on Tuesday, hitting $82.00. 5,841,427 shares of the stock were exchanged, compared to its average volume of 3,523,421. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. Digital Turbine has a 12-month low of $3.48 and a 12-month high of $97.70. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 251.24, a price-to-earnings-growth ratio of 2.07 and a beta of 2.42. The stock’s 50-day moving average price is $67.90 and its two-hundred day moving average price is $43.96.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties worldwide. Its software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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

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