Zacks: Brokerages Expect Digital Turbine Inc (NASDAQ:APPS) Will Post Earnings of $0.04 Per Share

Analysts forecast that Digital Turbine Inc (NASDAQ:APPS) will announce earnings per share (EPS) of $0.04 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Digital Turbine’s earnings, with estimates ranging from $0.03 to $0.04. Digital Turbine posted earnings of $0.01 per share during the same quarter last year, which suggests a positive year over year growth rate of 300%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Digital Turbine will report full year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.21. For the next financial year, analysts forecast that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.19 to $0.27. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Digital Turbine.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, August 5th. The software maker reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. The company had revenue of $30.55 million during the quarter, compared to analysts’ expectations of $28.39 million.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Tuesday, July 2nd. B. Riley boosted their price target on shares of Digital Turbine from $6.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, June 19th. BidaskClub downgraded shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. LADENBURG THALM/SH SH lifted their price objective on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Canaccord Genuity started coverage on Digital Turbine in a report on Thursday, June 27th. They issued a “buy” rating and a $6.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Digital Turbine currently has an average rating of “Buy” and an average target price of $5.56.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Digital Turbine by 66.1% in the 4th quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock worth $83,000 after acquiring an additional 18,102 shares during the period. Millennium Management LLC acquired a new position in shares of Digital Turbine in the 4th quarter worth approximately $83,000. Menta Capital LLC bought a new stake in Digital Turbine during the first quarter valued at $175,000. Cornerstone Wealth Group LLC bought a new position in Digital Turbine in the 1st quarter worth about $44,000. Finally, Spark Investment Management LLC bought a new position in shares of Digital Turbine in the first quarter valued at approximately $196,000. 39.36% of the stock is currently owned by hedge funds and other institutional investors.

APPS traded up $0.31 during trading on Friday, hitting $6.70. The stock had a trading volume of 102,208 shares, compared to its average volume of 2,813,975. The firm has a market capitalization of $565.29 million, a P/E ratio of 134.00 and a beta of 1.47. Digital Turbine has a twelve month low of $1.12 and a twelve month high of $7.84. The company’s 50-day moving average price is $6.48 and its 200 day moving average price is $4.62.

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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