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

Brokerages expect Digital Turbine, Inc. (NASDAQ:APPS) to report sales of $83.00 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Digital Turbine’s earnings, with estimates ranging from $80.70 million to $86.82 million. Digital Turbine posted sales of $39.35 million during the same quarter last year, which would indicate a positive year over year growth rate of 110.9%. The firm is scheduled to issue 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 year, analysts expect that the business will report sales of $395.26 million, with estimates ranging from $383.40 million to $412.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Digital Turbine.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, February 2nd. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Digital Turbine had a net margin of 13.38% and a return on equity of 38.26%. The company had revenue of $88.59 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same quarter in the prior year, the company earned $0.05 EPS. Digital Turbine’s revenue was up 146.0% compared to the same quarter last year.

APPS has been the subject of several research reports. B. Riley upped their price objective on shares of Digital Turbine from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Maxim Group upped their price objective on shares of Digital Turbine from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Roth Capital increased their price target on shares of Digital Turbine from $70.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, February 1st. Finally, Craig Hallum increased their price target on shares of Digital Turbine from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Digital Turbine currently has an average rating of “Buy” and a consensus price target of $64.44.

NASDAQ APPS traded up $3.87 during trading hours on Tuesday, hitting $82.00. 5,841,427 shares of the company’s stock traded hands, compared to its average volume of 3,523,421. Digital Turbine has a 52-week low of $3.48 and a 52-week high of $97.70. The company has a market capitalization of $7.33 billion, a PE ratio of 251.24, a PEG ratio of 2.07 and a beta of 2.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day moving average is $67.90 and its 200-day moving average is $43.96.

In other news, CAO David Wesch sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The shares were 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 directly owns 25,000 shares in the company, valued at approximately $2,205,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently modified their holdings of APPS. Lord Abbett & CO. LLC acquired a new position in shares of Digital Turbine in the 3rd quarter worth approximately $52,596,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Digital Turbine by 2,892.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 781,292 shares of the software maker’s stock worth $44,190,000 after acquiring an additional 755,181 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Digital Turbine during the 3rd quarter worth approximately $23,795,000. BlackRock Inc. lifted its holdings in Digital Turbine by 10.9% during the 4th quarter. BlackRock Inc. now owns 6,257,011 shares of the software maker’s stock worth $353,900,000 after buying an additional 614,936 shares in the last quarter. Finally, Braun Stacey Associates Inc. acquired a new stake in Digital Turbine during the 3rd quarter worth approximately $16,555,000. Hedge funds and other institutional investors own 60.69% of the company’s stock.

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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