Digital Turbine Inc (NASDAQ:APPS) – Research analysts at B. Riley lifted their FY2021 earnings per share (EPS) estimates for Digital Turbine in a research report issued on Tuesday, June 4th, according to Zacks Investment Research. B. Riley analyst S. Sinha now forecasts that the software maker will earn $0.14 per share for the year, up from their previous forecast of $0.12. B. Riley currently has a “Buy” rating and a $6.00 target price on the stock.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Tuesday, April 16th. Canaccord Genuity started coverage on shares of Digital Turbine in a research note on Thursday. They issued a “buy” rating and a $6.00 price target for the company. BidaskClub cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. Craig Hallum set a $6.00 price target on shares of Digital Turbine and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, National Securities reissued a “buy” rating and issued a $4.50 price objective on shares of Digital Turbine in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Digital Turbine presently has an average rating of “Buy” and a consensus target price of $5.48.
Digital Turbine (NASDAQ:APPS) last announced its earnings results on Monday, June 3rd. The software maker reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Digital Turbine had a negative net margin of 5.80% and a positive return on equity of 10.53%. The business had revenue of $27.19 million during the quarter, compared to analysts’ expectations of $26.55 million.
In other news, Director Paul M. Schaeffer sold 150,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.47, for a total value of $670,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul M. Schaeffer sold 31,847 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.54, for a total transaction of $144,585.38. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in Digital Turbine by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 2,847,934 shares of the software maker’s stock valued at $3,532,000 after purchasing an additional 12,400 shares in the last quarter. Bailard Inc. acquired a new stake in Digital Turbine in the 4th quarter valued at $210,000. Lindbrook Capital LLC acquired a new stake in Digital Turbine in the 4th quarter valued at $241,000. BlackRock Inc. increased its holdings in Digital Turbine by 5.1% in the 4th quarter. BlackRock Inc. now owns 349,869 shares of the software maker’s stock valued at $640,000 after purchasing an additional 16,845 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Digital Turbine by 66.1% in the 4th quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock valued at $83,000 after purchasing an additional 18,102 shares in the last quarter. 27.95% of the stock is currently owned by institutional investors and hedge funds.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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