B. Riley Weighs in on Digital Turbine Inc.’s Q3 2017 Earnings (APPS)
Digital Turbine Inc. (NASDAQ:APPS) – Analysts at B. Riley boosted their Q3 2017 EPS estimates for Digital Turbine in a note issued to investors on Wednesday. B. Riley analyst S. Sinha now anticipates that the firm will earn ($0.06) per share for the quarter, up from their prior estimate of ($0.07). B. Riley currently has a “Buy” rating and a $1.35 target price on the stock. B. Riley also issued estimates for Digital Turbine’s Q4 2017 earnings at ($0.06) EPS, FY2017 earnings at ($0.32) EPS and FY2018 earnings at ($0.19) EPS.
APPS has been the subject of a number of other reports. Ladenburg Thalmann upgraded Digital Turbine from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $1.26 to $2.35 in a report on Wednesday, August 31st. Roth Capital cut Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Monday, September 26th. Craig Hallum cut Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Finally, Zacks Investment Research cut Digital Turbine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Digital Turbine presently has a consensus rating of “Hold” and an average price target of $2.77.
Shares of Digital Turbine (NASDAQ:APPS) opened at 0.83 on Friday. Digital Turbine has a 52-week low of $0.73 and a 52-week high of $1.80. The stock’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.06. The company’s market capitalization is $55.31 million.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $24.04 million for the quarter, compared to the consensus estimate of $23.82 million. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share.
Several hedge funds have recently added to or reduced their stakes in the stock. Keane Capital Partners LLC acquired a new stake in Digital Turbine during the first quarter worth about $1,088,000. P.A.W. Capital Corp boosted its stake in Digital Turbine by 28.9% in the second quarter. P.A.W. Capital Corp now owns 980,000 shares of the company’s stock worth $1,049,000 after buying an additional 220,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Digital Turbine by 7.4% in the first quarter. Geode Capital Management LLC now owns 257,594 shares of the company’s stock worth $306,000 after buying an additional 17,789 shares during the last quarter. State Street Corp boosted its stake in Digital Turbine by 29.2% in the first quarter. State Street Corp now owns 506,334 shares of the company’s stock worth $605,000 after buying an additional 114,424 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Digital Turbine during the second quarter worth about $225,000. 18.88% of the stock is owned by institutional investors.
About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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