Zacks: Brokerages Anticipate Digital Turbine Inc (APPS) Will Post Quarterly Sales of $28.95 Million

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Equities research analysts expect that Digital Turbine Inc (NASDAQ:APPS) will announce sales of $28.95 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Digital Turbine’s earnings, with the lowest sales estimate coming in at $28.80 million and the highest estimate coming in at $29.10 million. Digital Turbine posted sales of $38.03 million during the same quarter last year, which suggests a negative year-over-year growth rate of 23.9%. The company is expected to announce its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Digital Turbine will report full year sales of $101.34 million for the current financial year, with estimates ranging from $101.30 million to $101.38 million. For the next year, analysts anticipate that the business will post sales of $122.96 million, with estimates ranging from $120.30 million to $125.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Digital Turbine.

A number of equities research analysts recently issued reports on the stock. National Securities reissued a “buy” rating and issued a $3.50 price objective on shares of Digital Turbine in a report on Monday, August 13th. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $1.75 price objective for the company in a report on Friday, November 9th. Finally, TheStreet raised shares of Digital Turbine from a “d” rating to a “c” rating in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $2.85.

Shares of APPS opened at $1.89 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. Digital Turbine has a 12-month low of $1.12 and a 12-month high of $2.59. The stock has a market capitalization of $155.31 million, a P/E ratio of -21.00 and a beta of 1.20.

In other news, Director Robert M. Deutschman acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was purchased at an average price of $1.27 per share, with a total value of $31,750.00. Following the completion of the acquisition, the director now owns 292,550 shares of the company’s stock, valued at approximately $371,538.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. National Asset Management Inc. boosted its stake in Digital Turbine by 5.4% during the third quarter. National Asset Management Inc. now owns 629,475 shares of the software maker’s stock worth $781,000 after buying an additional 32,200 shares during the period. Acadian Asset Management LLC boosted its stake in Digital Turbine by 23.9% during the third quarter. Acadian Asset Management LLC now owns 302,265 shares of the software maker’s stock worth $374,000 after buying an additional 58,349 shares during the period. Trellus Management Company LLC boosted its stake in Digital Turbine by 8.3% during the third quarter. Trellus Management Company LLC now owns 936,497 shares of the software maker’s stock worth $1,161,000 after buying an additional 71,812 shares during the period. United Services Automobile Association boosted its stake in Digital Turbine by 7.0% during the third quarter. United Services Automobile Association now owns 1,480,187 shares of the software maker’s stock worth $1,835,000 after buying an additional 97,240 shares during the period. Finally, BlackRock Inc. boosted its stake in Digital Turbine by 66.5% during the second quarter. BlackRock Inc. now owns 324,099 shares of the software maker’s stock worth $490,000 after buying an additional 129,460 shares during the period. 21.85% of the stock is owned by hedge funds and other institutional investors.

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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