Digital Turbine Inc. to Post Q3 2017 Earnings of ($0.08) Per Share, B. Riley Forecasts (APPS)
Digital Turbine Inc. (NASDAQ:APPS) – Research analysts at B. Riley dropped their Q3 2017 earnings per share (EPS) estimates for Digital Turbine in a report issued on Thursday. B. Riley analyst S. Sinha now anticipates that the firm will post earnings per share of ($0.08) for the quarter, down from their previous forecast of ($0.06). B. Riley currently has a “Buy” rating and a $1.25 target price on the stock. B. Riley also issued estimates for Digital Turbine’s Q4 2017 earnings at ($0.07) EPS, FY2017 earnings at ($0.38) EPS, Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at ($0.07) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.05) EPS and FY2018 earnings at ($0.20) EPS.
Other research analysts have also issued research reports about the company. Ladenburg Thalmann raised Digital Turbine from a “neutral” rating to a “buy” rating and lifted their target price for the company from $1.26 to $2.35 in a report on Wednesday, August 31st. Craig Hallum lowered Digital Turbine from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Roth Capital lowered Digital Turbine from a “buy” rating to a “neutral” rating in a report on Monday, September 26th. Finally, Zacks Investment Research lowered Digital Turbine from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Digital Turbine has a consensus rating of “Hold” and an average price target of $2.40.
Digital Turbine (NASDAQ:APPS) opened at 0.925 on Monday. The company has a 50-day moving average of $0.84 and a 200-day moving average of $1.02. Digital Turbine has a one year low of $0.56 and a one year high of $1.60. The company’s market cap is $61.64 million.
Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. The business earned $22.80 million during the quarter, compared to the consensus estimate of $24.72 million. Digital Turbine had a negative net margin of 28.11% and a negative return on equity of 32.86%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) EPS.
In other news, CEO William Gordon Stone III bought 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was bought at an average price of $0.86 per share, for a total transaction of $129,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in APPS. Keane Capital Partners LLC purchased a new stake in Digital Turbine during the first quarter worth $1,088,000. P.A.W. Capital Corp increased 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. Perkins Capital Management Inc. increased its stake in Digital Turbine by 221.2% in the third quarter. Perkins Capital Management Inc. now owns 1,013,080 shares of the company’s stock worth $1,064,000 after buying an additional 697,655 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Digital Turbine during the second quarter worth $225,000. Finally, White Pine Capital LLC increased its stake in Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock worth $664,000 after buying an additional 68,200 shares during the last quarter. Institutional investors own 19.66% of the company’s stock.
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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