Digital Turbine (NASDAQ:APPS) Updates Q1 2023 Earnings Guidance

Digital Turbine (NASDAQ:APPSGet Rating) issued an update on its first quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.34-$0.35 for the period, compared to the consensus EPS estimate of $0.44. The company issued revenue guidance of $183.00 million-$187.00 million, compared to the consensus revenue estimate of $357.05 million.

Several research analysts have commented on APPS shares. StockNews.com initiated coverage on shares of Digital Turbine in a research report on Thursday, March 31st. They issued a sell rating for the company. Macquarie decreased their price objective on Digital Turbine from $70.00 to $40.00 and set an outperform rating for the company in a report on Wednesday, June 1st. Oppenheimer cut their target price on Digital Turbine from $117.00 to $40.00 and set an outperform rating on the stock in a research note on Wednesday, June 1st. Finally, Craig Hallum decreased their price target on Digital Turbine from $105.00 to $85.00 in a research note on Wednesday, June 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $79.40.

Shares of NASDAQ:APPS opened at $15.48 on Tuesday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 45.53, a PEG ratio of 0.37 and a beta of 2.37. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07. Digital Turbine has a 12 month low of $14.43 and a 12 month high of $93.98. The stock’s 50 day moving average price is $26.67 and its 200 day moving average price is $40.18.

Digital Turbine (NASDAQ:APPSGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Digital Turbine had a return on equity of 30.00% and a net margin of 3.28%. The company had revenue of $184.14 million for the quarter, compared to the consensus estimate of $336.45 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. On average, sell-side analysts expect that Digital Turbine will post 1.53 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Digital Turbine by 4.5% in the 1st quarter. BlackRock Inc. now owns 10,426,749 shares of the software maker’s stock worth $456,794,000 after acquiring an additional 453,301 shares during the last quarter. State Street Corp lifted its stake in Digital Turbine by 4.0% during the first quarter. State Street Corp now owns 2,918,181 shares of the software maker’s stock valued at $127,846,000 after buying an additional 111,107 shares in the last quarter. Capital Research Global Investors increased its position in shares of Digital Turbine by 41.7% in the first quarter. Capital Research Global Investors now owns 1,254,733 shares of the software maker’s stock worth $54,970,000 after acquiring an additional 368,982 shares in the last quarter. Morgan Stanley raised its holdings in shares of Digital Turbine by 83.6% during the second quarter. Morgan Stanley now owns 876,887 shares of the software maker’s stock valued at $66,670,000 after acquiring an additional 399,216 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Digital Turbine by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 679,844 shares of the software maker’s stock valued at $29,784,000 after acquiring an additional 18,344 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Digital Turbine Company Profile (Get Rating)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, publishers, device 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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Earnings History and Estimates for Digital Turbine (NASDAQ:APPS)

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