Equity research analysts expect Digital Turbine, Inc. (NASDAQ: APPS – Get a rating) to report $336.50 million in sales for the current quarter, according to Zacks. Two analysts have released earnings estimates for Digital Turbine. The lowest sales estimate is $334.80 million and the highest is $338.20 million. Digital Turbine recorded sales of $95.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 253.9%. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect Digital Turbine to record annual sales of $1.27 billion for the current year, with estimates ranging from $1.23 billion to $1.32 billion. For the next fiscal year, analysts expect the company to post sales of $1.67 billion, with estimates ranging from $1.65 billion to $1.69 billion. Zacks sales calculations are an average average based on a survey of sell-side research companies that provide coverage for Digital Turbine.
Digital Turbine (NASDAQ: APPS – Get a rating) last reported results on Tuesday, February 8. The software maker reported EPS of $0.43 for the quarter, beating the Zacks consensus estimate of $0.36 by $0.07. The company posted revenue of $375.50 million in the quarter, compared to $353.21 million expected by analysts. Digital Turbine has a return on equity of 33.35% and a net margin of 4.58%. The company’s revenue for the quarter increased by 323.8% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $0.21.
A number of research analysts have recently commented on the company. StockNews.com assumed coverage on Digital Turbine in a research note on Thursday, March 31. They issued a “sell” rating for the company. Macquarie lowered its target price on Digital Turbine from $80.00 to $70.00 and set an “outperform” rating for the company in a Wednesday, Feb. 9 research note. One financial analyst has assigned the stock a sell rating, one has assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat, Digital Turbine currently has a consensus buy rating and a consensus target price of $101.20.
In other Digital Turbine news, Director Michelle M. Sterling purchased 1,000 shares of the company in a trade dated Monday, March 7. The shares were purchased at an average price of $36.79 per share, for a total transaction of $36,790.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, director Robert M. Deutschman bought 15,000 shares of the company in a transaction dated Monday, March 14. The shares were acquired at an average price of $31.66 per share, with a total value of $474,900.00. Disclosure of this purchase can be found here. 5.60% of the shares are currently held by insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Digital Turbine by 2.7% in the fourth quarter. BlackRock Inc. now owns 9,973,448 shares of the software maker worth $608,281,000 after buying an additional 265,537 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Digital Turbine by 240.6% in the third quarter. Wellington Management Group LLP now owns 6,329,093 shares of the software maker worth $435,125,000 after buying an additional 4,470,615 shares in the last quarter. State Street Corp increased its stake in shares of Digital Turbine by 1.5% in the fourth quarter. State Street Corp now owns 2,807,074 shares of the software maker worth $171,203,000 after buying an additional 41,504 shares in the last quarter. Granahan Investment Management Inc. MA increased its stake in shares of Digital Turbine by 13.0% in the third quarter. Granahan Investment Management Inc. MA now owns 2,169,653 shares of the software maker worth $149,164,000 after buying an additional 249,220 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Digital Turbine shares by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,558,196 shares of the software maker worth $95,034,000 after buying 36,607 additional shares in the last quarter. Hedge funds and other institutional investors hold 63.52% of the company’s shares.
APPLICATIONS opened at $36.98 on Friday. The stock has a market capitalization of $3.59 billion, a PE ratio of 80.39, a PEG ratio of 0.43 and a beta of 2.23. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt ratio of 0.70. The company has a 50-day moving average of $43.07 and a 200-day moving average of $55.29. Digital Turbine has a 52 week low of $30.60 and a 52 week high of $93.98.
About the digital turbine (Get a rating)
Digital Turbine, Inc, through its subsidiaries, provides multimedia and mobile communication products and solutions to mobile operators, application advertisers, publishers, 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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