Digital Turbine (NASDAQ: APPS – Get a rating) updated its earnings guidance for the first quarter of 2023 on Tuesday. The company provided earnings per share (EPS) guidance of $0.34 to $0.35 for the period, compared to the consensus estimate. of $0.44. The company released a revenue forecast of $183.00 million to $187.00 million, compared to the consensus revenue estimate of $357.05 million.
APPS has been the subject of several recent analyst reports. Craig Hallum lowered his price target on Digital Turbine shares from $105.00 to $85.00 in a Wednesday, June 1 report. Oppenheimer lowered its price target on Digital Turbine from $117.00 to $40.00 and set an outperform rating for the company in a Wednesday, June 1 report. Macquarie cut its price target on Digital Turbine from $70.00 to $40.00 and set an outperform rating for the stock in a Wednesday, June 1 research note. To finish, StockNews.com assumed coverage on Digital Turbine in a Thursday, March 31 research note. They issued a sell rating for the company. One research analyst has rated the stock with a sell rating and four have assigned the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average buy rating and a consensus target price of $79.40.
NASDAQ: APPS opened at $15.48 on Tuesday. The company has a market capitalization of $1.52 billion, a price/earnings ratio of 45.53, a P/E/G ratio of 0.37 and a beta of 2.37. The company has a debt ratio of 1.01, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty-day moving average price is $26.67 and its two-hundred-day moving average price is $40.18. Digital Turbine has a 52 week low of $14.43 and a 52 week high of $93.98.
Digital Turbine (NASDAQ: APPS – Get a rating) last released its quarterly results on Tuesday, May 31. The software maker reported earnings per share (EPS) of $0.35 for the quarter, beating the consensus estimate of $0.34 by $0.01. The company posted revenue of $184.14 million for the quarter, versus analyst estimates of $336.45 million. Digital Turbine had a return on equity of 30.00% and a net margin of 3.28%. The company’s revenue for the quarter increased by 93.7% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.24. On average, stock analysts predict that Digital Turbine will post 1.53 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently changed their holdings in APPS. Rice Hall James & Associates LLC bought a new position in Digital Turbine stock in Q1 for $21,530,000. BlackRock Inc. increased its stake in Digital Turbine by 4.5% in the first quarter. BlackRock Inc. now owns 10,426,749 shares of the software maker worth $456,794,000 after buying an additional 453,301 shares in the last quarter. Morgan Stanley increased its position in Digital Turbine shares by 83.6% during the second quarter. Morgan Stanley now owns 876,887 shares of the software maker worth $66,670,000 after buying an additional 399,216 shares during the period. Capital Research Global Investors increased its position in Digital Turbine shares by 41.7% in Q1. Capital Research Global Investors now owns 1,254,733 shares of the software maker valued at $54,970,000 after acquiring an additional 368,982 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Digital Turbine by 38.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 562,724 shares of the software maker worth $24,653,000 after acquiring 155,191 additional shares in the last quarter. 63.38% of the shares are currently held by institutional investors.
About the digital turbine (Get a rating)
Digital Turbine, Inc, through its subsidiaries, provides multimedia and mobile communication products and solutions to mobile operators, application advertisers, publishers, original equipment manufacturers (OEMs) and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage and monetize devices.
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