Digital Turbine, Inc. (APPS) Issues Quarterly Earnings Results
Digital Turbine, Inc. (NASDAQ:APPS) released its quarterly earnings results on Tuesday. The software maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01, Bloomberg Earnings reports. The business had revenue of $27.90 million during the quarter, compared to analysts’ expectations of $26.96 million. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS.
Digital Turbine (NASDAQ:APPS) traded down $0.01 during trading hours on Tuesday, hitting $1.57. The stock had a trading volume of 154,559 shares, compared to its average volume of 275,382. Digital Turbine has a 1-year low of $0.59 and a 1-year high of $1.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78.
Several research firms have weighed in on APPS. B. Riley restated a “buy” rating and set a $1.40 price target on shares of Digital Turbine in a report on Monday, August 14th. ValuEngine upgraded Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. 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. Finally, Zacks Investment Research cut Digital Turbine from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Digital Turbine presently has an average rating of “Buy” and a consensus price target of $1.43.
In other Digital Turbine news, CEO William Gordon Stone III purchased 126,400 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $1.12 per share, with a total value of $141,568.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.80% of the stock is owned by company insiders.
Digital Turbine Company Profile
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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