Analysts forecast that Digital Turbine Inc (NASDAQ:APPS) will post sales of $31.55 million for the current quarter, Zacks reports. Two analysts have provided estimates for Digital Turbine’s earnings, with the highest sales estimate coming in at $31.59 million and the lowest estimate coming in at $31.50 million. Digital Turbine reported sales of $23.85 million in the same quarter last year, which would suggest a positive year over year growth rate of 32.3%. The firm is expected to report its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Digital Turbine will report full year sales of $130.89 million for the current year, with estimates ranging from $129.67 million to $132.10 million. For the next financial year, analysts forecast that the firm will post sales of $157.71 million, with estimates ranging from $153.20 million to $162.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Digital Turbine.
Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $30.55 million for the quarter, compared to analysts’ expectations of $28.39 million. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its position in Digital Turbine by 10.1% during the 2nd quarter. GSA Capital Partners LLP now owns 53,300 shares of the software maker’s stock worth $267,000 after purchasing an additional 4,900 shares during the period. Advisory Services Network LLC increased its position in Digital Turbine by 3.4% during the 2nd quarter. Advisory Services Network LLC now owns 181,004 shares of the software maker’s stock worth $905,000 after purchasing an additional 5,942 shares during the period. Bank of Montreal Can acquired a new position in Digital Turbine during the 2nd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC acquired a new position in Digital Turbine during the 2nd quarter worth approximately $33,000. Finally, Delta Investment Management LLC acquired a new position in Digital Turbine during the 2nd quarter worth approximately $75,000. Institutional investors own 39.29% of the company’s stock.
APPS stock traded up $0.10 during trading on Wednesday, hitting $6.30. The company had a trading volume of 741,441 shares, compared to its average volume of 1,607,610. The firm has a market cap of $522.96 million, a PE ratio of 126.00 and a beta of 1.39. Digital Turbine has a 1-year low of $1.21 and a 1-year high of $7.84. The firm has a 50-day moving average price of $6.90 and a 200-day moving average price of $5.09.
Digital Turbine Company Profile
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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