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
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
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).
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