June 14, 2022

Digital Turbine (NASDAQ:APPS) Updates Fiscal 2022 Earnings Guidance


Digital Turbine (NASDAQ: APPSGet a rating) released an update to its fiscal 2022 earnings guidance on Tuesday morning. The company provided earnings guidance of $1.66 to $1.68 per share for the period, compared to the consensus earnings per share of $1.67. The company released a revenue forecast of -.

Shares of NASDAQ: APPS opened at $25.51 on Tuesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 55.46, a growth price-to-earnings ratio of 0.29 and a beta of 2.34. The company’s 50-day moving average price is $35.62 and its 200-day moving average price is $45.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt ratio of 0.70. Digital Turbine has a fifty-two week low of $21.60 and a fifty-two week high of $93.98.

APPS has been the subject of several analyst reports. Macquarie lowered its target price on Digital Turbine from $80.00 to $70.00 and set an outperform rating for the stock in a Wednesday, Feb. 9 research note. StockNews.com began covering Digital Turbine shares in a research note on Thursday, March 31. They put a sell mark on the stock. One equity research analyst rated the stock with a sell rating, one gave the company a hold rating and four gave the company’s stock a buy rating. According to MarketBeat, the stock currently has a consensus buy quote and a consensus price target of $101.20.

In related news, the director Robert M. Deutschman acquired 15,000 shares of the company in a transaction that took place on Monday, March 14. The shares were acquired at an average price of $31.66 per share, with a total value of $474,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, director Michelle M. Sterling bought 1,000 shares of the company in a transaction that took place on Monday, March 7. The shares were purchased at an average cost of $36.79 per share, with a total value of $36,790.00. Disclosure of this purchase can be found here. 5.60% of the shares are currently held by insiders.

Several institutional investors have recently changed their holdings in APPS. BlackRock Inc. increased its stake in shares of Digital Turbine by 4.5% during the 1st quarter. BlackRock Inc. now owns 10,426,749 shares of the software maker valued at $456,794,000 after purchasing an additional 453,301 shares during the period. State Street Corp increased its Digital Turbine equity stake by 4.0% in Q1. State Street Corp now owns 2,918,181 shares of the software maker worth $127,846,000 after purchasing an additional 111,107 shares during the period. Capital Research Global Investors increased its equity stake in Digital Turbine 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 buying an additional 368,982 shares last quarter. Morgan Stanley increased its holdings of Digital Turbine shares by 83.6% during the 2nd 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. Finally, Charles Schwab Investment Management Inc. increased its position in Digital Turbine by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 679,844 shares of the software maker worth $29,784,000 after buying an additional 18,344 shares 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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