Wall Street brokerages predict that Digital Turbine Inc (NASDAQ:APPS) will post sales of $38.40 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Digital Turbine’s earnings, with estimates ranging from $38.39 million to $38.40 million. Digital Turbine reported sales of $27.19 million during the same quarter last year, which suggests a positive year over year growth rate of 41.2%. The company is expected to issue its next earnings report after the market closes on Tuesday, June 2nd.
On average, analysts expect that Digital Turbine will report full-year sales of $137.78 million for the current financial year, with estimates ranging from $137.76 million to $137.80 million. For the next financial year, analysts forecast that the firm will post sales of $207.24 million, with estimates ranging from $192.60 million to $221.88 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Digital Turbine.
A number of equities research analysts have issued reports on APPS shares. Zacks Investment Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. ValuEngine upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. B. Riley cut their price target on Digital Turbine from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. BidaskClub upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Canaccord Genuity increased their price target on Digital Turbine from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Digital Turbine presently has a consensus rating of “Buy” and an average price target of $8.30.
In other news, Director Robert M. Deutschman acquired 5,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $6.02 per share, with a total value of $30,100.00. Following the completion of the purchase, the director now directly owns 579,922 shares in the company, valued at $3,491,130.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mohan S. Gyani acquired 12,500 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was purchased at an average cost of $5.95 per share, with a total value of $74,375.00. Following the purchase, the director now owns 579,922 shares of the company’s stock, valued at $3,450,535.90. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 24,500 shares of company stock valued at $137,435. 5.80% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Ellington Management Group LLC raised its stake in shares of Digital Turbine by 9.1% during the fourth quarter. Ellington Management Group LLC now owns 21,600 shares of the software maker’s stock valued at $154,000 after acquiring an additional 1,800 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Digital Turbine by 43.3% during the fourth quarter. Bank of Montreal Can now owns 9,866 shares of the software maker’s stock valued at $70,000 after acquiring an additional 2,981 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of Digital Turbine by 32.4% during the first quarter. Hennessy Advisors Inc. now owns 14,022 shares of the software maker’s stock valued at $60,000 after acquiring an additional 3,429 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Digital Turbine by 975.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,300 shares of the software maker’s stock valued at $30,000 after acquiring an additional 3,900 shares in the last quarter. Finally, IFP Advisors Inc bought a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $30,000. 51.35% of the stock is owned by hedge funds and other institutional investors.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.
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