Digital Turbine Inc. (NASDAQ:APPS) – Equities research analysts at Roth Capital cut their Q2 2017 earnings per share estimates for Digital Turbine in a report released on Monday. Roth Capital analyst B. Alger now expects that the firm will post earnings of ($0.08) per share for the quarter, down from their prior estimate of ($0.07). Roth Capital has a “Neutral” rating on the stock. Roth Capital also issued estimates for Digital Turbine’s Q3 2017 earnings at ($0.04) EPS, Q4 2017 earnings at ($0.03) EPS, FY2017 earnings at ($0.26) EPS and FY2018 earnings at $0.00 EPS.
Digital Turbine (NASDAQ:APPS) last issued 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 business had revenue of $24.04 million for the quarter, compared to analyst estimates of $23.82 million. Digital Turbine had a negative return on equity of 30.82% and a negative net margin of 29.61%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.22) earnings per share.
A number of other brokerages also recently commented on APPS. Ladenburg Thalmann raised Digital Turbine from a “neutral” rating to a “buy” rating and increased their price target for the company from $1.26 to $2.35 in a report on Wednesday, August 31st. B. Riley reissued a “buy” rating and issued a $1.70 price target on shares of Digital Turbine in a report on Wednesday, August 10th. Leerink Swann downgraded Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price target for the company. in a report on Tuesday, June 14th. Finally, Zacks Investment Research raised Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 price target for the company in a report on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $2.83.
Shares of Digital Turbine (NASDAQ:APPS) opened at 1.02 on Wednesday. Digital Turbine has a 12 month low of $0.73 and a 12 month high of $1.97. The firm’s market capitalization is $67.97 million. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keane Capital Partners LLC purchased a new position in Digital Turbine during the first quarter worth approximately $1,088,000. P.A.W. Capital Corp increased its position 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 in the last quarter. Geode Capital Management LLC increased its position 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 in the last quarter. State Street Corp increased its position 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 in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Digital Turbine during the second quarter worth approximately $225,000. 18.88% of the stock is currently 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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