Digital Turbine (APPS) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on May 22nd, 2023

Digital Turbine (NASDAQ:APPS – Get Rating) is set to issue its quarterly earnings data after the market closes on Wednesday, May 24th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Digital Turbine Trading Down 1.7 %

Shares of NASDAQ:APPS opened at $13.78 on Monday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.50 and a beta of 2.47. Digital Turbine has a 12-month low of $9.13 and a 12-month high of $27.18. The firm has a fifty day moving average of $11.89 and a two-hundred day moving average of $13.91. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.70.

Insider Activity at Digital Turbine

In other news, CEO William Gordon Stone III sold 35,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were 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 approximately $17,367,696.06. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robert M. Deutschman bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $9.80 per share, for a total transaction of $147,000.00. Following the transaction, the director now directly owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Gordon Stone III sold 35,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were 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 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 owned by corporate insiders.

Institutional Trading of Digital Turbine

Several large investors have recently added to or reduced their stakes in APPS. Quantbot Technologies LP bought a new position in shares of Digital Turbine in the first quarter valued at about $58,000. Canada Pension Plan Investment Board bought a new position in shares of Digital Turbine in the first quarter worth about $73,000. Lazard Asset Management LLC bought a new position in shares of Digital Turbine in the fourth quarter worth about $31,000. Steward Partners Investment Advisory LLC lifted its position in shares of Digital Turbine by 79.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,519 shares of the software maker’s stock worth $69,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Amundi grew its stake in shares of Digital Turbine by 33.3% during the fourth quarter. Amundi now owns 5,317 shares of the software maker’s stock valued at $89,000 after purchasing an additional 1,327 shares during the last quarter. 62.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on APPS. StockNews.com started coverage on Digital Turbine in a research report on Thursday. They issued a “sell” rating for the company. Craig Hallum dropped their price target on shares of Digital Turbine from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 9th. Oppenheimer downgraded shares of Digital Turbine from an “outperform” rating to a “market perform” rating in a report on Thursday, February 9th. Macquarie lowered shares of Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 target price for the company. in a research report on Friday, February 17th. Finally, B. Riley decreased their price target on shares of Digital Turbine from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.17.

Digital Turbine Company Profile

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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).