$0.40 Earnings Per Share Expected for Digital Turbine, Inc. (NASDAQ:APPS) This Quarter

Equities research analysts expect Digital Turbine, Inc. (NASDAQ:APPSGet Rating) to post earnings of $0.40 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Digital Turbine’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.41. Digital Turbine posted earnings of $0.25 per share in the same quarter last year, which suggests a positive year over year growth rate of 60%. The firm is expected to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Digital Turbine will report full-year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.68. For the next financial year, analysts anticipate that the company will report earnings of $2.13 per share, with EPS estimates ranging from $1.74 to $2.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Digital Turbine.

APPS has been the subject of several recent research reports. Macquarie cut their price target on Digital Turbine from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, February 9th. StockNews.com initiated coverage on Digital Turbine in a research note on Thursday, March 31st. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Digital Turbine presently has an average rating of “Buy” and a consensus price target of $101.20.

Shares of APPS stock traded up $1.50 during trading on Wednesday, hitting $23.65. The company had a trading volume of 2,875,336 shares, compared to its average volume of 3,272,564. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $2.29 billion, a P/E ratio of 51.41, a price-to-earnings-growth ratio of 0.29 and a beta of 2.34. The stock’s 50-day moving average price is $34.96 and its 200 day moving average price is $45.55. Digital Turbine has a one year low of $21.43 and a one year high of $93.98.

In related news, Director Michelle M. Sterling purchased 1,000 shares of the stock in a transaction dated Monday, March 7th. The stock was bought at an average cost of $36.79 per share, for a total transaction of $36,790.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert M. Deutschman purchased 15,000 shares of the stock in a transaction dated Monday, March 14th. The shares were bought at an average price of $31.66 per share, with a total value of $474,900.00. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of APPS. Wellington Management Group LLP increased its holdings in Digital Turbine by 240.6% in the third quarter. Wellington Management Group LLP now owns 6,329,093 shares of the software maker’s stock valued at $435,125,000 after purchasing an additional 4,470,615 shares during the period. Norges Bank acquired a new stake in Digital Turbine in the fourth quarter valued at $34,554,000. Bank of New York Mellon Corp increased its holdings in Digital Turbine by 153.4% in the third quarter. Bank of New York Mellon Corp now owns 842,790 shares of the software maker’s stock valued at $57,941,000 after purchasing an additional 510,159 shares during the period. Rice Hall James & Associates LLC acquired a new stake in Digital Turbine in the first quarter valued at $21,530,000. Finally, Capital Research Global Investors increased its holdings in Digital Turbine by 110.9% in the fourth quarter. Capital Research Global Investors now owns 885,751 shares of the software maker’s stock valued at $54,022,000 after purchasing an additional 465,751 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

About Digital Turbine (Get Rating)

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

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