Digital Turbine Inc (APPS) to Post Q3 2019 Earnings of $0.01 Per Share, B. Riley Forecasts

Digital Turbine Inc (NASDAQ:APPS) – Investment analysts at B. Riley upped their Q3 2019 earnings per share estimates for shares of Digital Turbine in a research report issued to clients and investors on Tuesday, November 6th. B. Riley analyst S. Sinha now expects that the software maker will post earnings of $0.01 per share for the quarter, up from their prior forecast of ($0.01). B. Riley also issued estimates for Digital Turbine’s FY2020 earnings at $0.06 EPS.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Thursday, August 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Digital Turbine had a negative net margin of 38.14% and a negative return on equity of 15.28%. The company had revenue of $22.11 million during the quarter, compared to analyst estimates of $22.98 million.

A number of other equities analysts have also issued reports on APPS. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $1.75 price target for the company in a research report on Friday. TheStreet raised shares of Digital Turbine from a “d” rating to a “c” rating in a research report on Tuesday, November 6th. ValuEngine lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, National Securities set a $4.00 price target on shares of Digital Turbine and gave the stock a “buy” rating in a research report on Tuesday, November 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $2.85.

APPS opened at $1.70 on Friday. Digital Turbine has a 12-month low of $1.12 and a 12-month high of $2.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.82 and a quick ratio of 0.80.

In other news, Director Robert M. Deutschman acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were acquired at an average price of $1.27 per share, with a total value of $31,750.00. Following the purchase, the director now directly owns 292,550 shares of the company’s stock, valued at $371,538.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roy H. Chestnutt acquired 20,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $1.32 per share, for a total transaction of $26,400.00. Following the purchase, the director now directly owns 66,763 shares in the company, valued at $88,127.16. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $178,000. JPMorgan Chase & Co. acquired a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $217,000. Northern Trust Corp grew its stake in shares of Digital Turbine by 35.9% during the 1st quarter. Northern Trust Corp now owns 125,271 shares of the software maker’s stock worth $251,000 after purchasing an additional 33,078 shares during the period. Acadian Asset Management LLC grew its stake in shares of Digital Turbine by 98.8% during the 2nd quarter. Acadian Asset Management LLC now owns 243,916 shares of the software maker’s stock worth $368,000 after purchasing an additional 121,211 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Digital Turbine by 66.5% during the 2nd quarter. BlackRock Inc. now owns 324,099 shares of the software maker’s stock worth $490,000 after purchasing an additional 129,460 shares during the period. 26.45% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

Featured Article: What is Cost of Capital?

Earnings History and Estimates for Digital Turbine (NASDAQ:APPS)

Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply