Digital Turbine, Inc. (NASDAQ:APPS) Announces Earnings Results, Beats Estimates By $0.05 EPS
Digital Turbine, Inc. (NASDAQ:APPS) issued its quarterly earnings results on Monday. The software maker reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05, Briefing.com reports. The firm had revenue of $26.10 million during the quarter, compared to the consensus estimate of $24.46 million. Digital Turbine had a negative return on equity of 38.00% and a negative net margin of 26.59%. During the same quarter in the prior year, the business posted ($0.11) earnings per share.
Digital Turbine (APPS) opened at 1.10 on Tuesday. The company’s market cap is $73.26 million. The firm’s 50-day moving average price is $1.06 and its 200-day moving average price is $0.96. Digital Turbine has a 12-month low of $0.56 and a 12-month high of $1.55.
A number of large investors have recently added to or reduced their stakes in the company. Weiss Multi Strategy Advisers LLC purchased a new stake in Digital Turbine during the first quarter worth $188,000. Trellus Management Company LLC increased its stake in Digital Turbine by 5.2% in the first quarter. Trellus Management Company LLC now owns 516,325 shares of the software maker’s stock worth $485,000 after buying an additional 25,740 shares during the period. Perkins Capital Management Inc. increased its stake in Digital Turbine by 1.2% in the first quarter. Perkins Capital Management Inc. now owns 898,080 shares of the software maker’s stock worth $844,000 after buying an additional 11,000 shares during the period. Finally, Carleon Capital Partners LLC purchased a new stake in Digital Turbine during the second quarter worth $2,673,000. 17.18% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on APPS. B. Riley reissued a “buy” rating and issued a $1.15 price target on shares of Digital Turbine in a report on Monday, June 12th. ValuEngine raised Digital Turbine from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Wednesday, June 28th. Craig Hallum raised Digital Turbine from a “hold” rating to a “buy” rating and increased their price target for the company from $1.10 to $1.50 in a report on Tuesday, April 25th. Finally, Roth Capital set a $1.00 price target on Digital Turbine and gave the company a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1.43.
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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