Digital Turbine (NASDAQ:APPS) Releases Q1 Earnings Guidance

Digital Turbine (NASDAQ:APPS – Get Rating) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.11-0.13 for the period, compared to the consensus estimate of $0.22. The company issued revenue guidance of $140-145 million, compared to the consensus revenue estimate of $148.53 million.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. B. Riley cut their price target on shares of Digital Turbine from $12.00 to $9.00 and set a neutral rating for the company in a research note on Monday, March 13th. Roth Mkm cut shares of Digital Turbine from a buy rating to a neutral rating and cut their target price for the company from $15.00 to $10.00 in a research note on Thursday. Craig Hallum cut their target price on shares of Digital Turbine from $25.00 to $20.00 in a research note on Thursday. Oppenheimer downgraded Digital Turbine from an outperform rating to a market perform rating in a research report on Thursday, February 9th. Finally, Macquarie lowered Digital Turbine from an outperform rating to a neutral rating and set a $12.00 price objective on the stock. in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $14.71.

Digital Turbine Stock Down 43.0 %

NASDAQ:APPS opened at $8.23 on Friday. The company has a market cap of $816.42 million, a price-to-earnings ratio of 51.44, a P/E/G ratio of 1.54 and a beta of 2.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average price is $12.09 and its two-hundred day moving average price is $13.90. Digital Turbine has a 52-week low of $8.10 and a 52-week high of $27.03.

Insider Transactions at Digital Turbine

In related news, CEO William Gordon Stone III sold 35,000 shares of Digital Turbine stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,647,789 shares in the company, valued at $17,367,696.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robert M. Deutschman purchased 15,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $9.80 per share, with a total value of $147,000.00. Following the purchase, the director now directly owns 289,017 shares in the company, valued at approximately $2,832,366.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Gordon Stone III sold 35,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the transaction, the chief executive officer now owns 1,647,789 shares in the company, valued at $17,367,696.06. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC bought a new position in Digital Turbine during the 1st quarter worth approximately $21,530,000. Raymond James & Associates boosted its position in shares of Digital Turbine by 37.6% during the first quarter. Raymond James & Associates now owns 53,074 shares of the software maker’s stock worth $2,325,000 after purchasing an additional 14,493 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Digital Turbine by 39.4% during the first quarter. American Century Companies Inc. now owns 27,009 shares of the software maker’s stock worth $1,183,000 after purchasing an additional 7,634 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Digital Turbine in the 1st quarter valued at $324,000. Finally, Rhumbline Advisers increased its position in shares of Digital Turbine by 3.4% in the 1st quarter. Rhumbline Advisers now owns 239,498 shares of the software maker’s stock valued at $10,492,000 after buying an additional 7,843 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

About Digital Turbine

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).