Digital Turbine (APPS) Scheduled to Post Quarterly Earnings on Monday

Digital Turbine (NASDAQ:APPS – Get Rating) is set to announce its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Digital Turbine has set its FY 2022 guidance at $1.66-$1.68 EPS and its Q1 2023 guidance at $0.34-$0.35 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Digital Turbine (NASDAQ:APPS – Get Rating) last issued its earnings results on Tuesday, May 31st. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Digital Turbine had a net margin of 3.28% and a return on equity of 30.00%. The company had revenue of $184.14 million during the quarter, compared to analysts’ expectations of $336.45 million. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 93.7% compared to the same quarter last year. On average, analysts expect Digital Turbine to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Digital Turbine Trading Down 1.2 %

Shares of Digital Turbine stock opened at $22.88 on Friday. Digital Turbine has a 12-month low of $14.43 and a 12-month high of $93.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. The stock has a market cap of $2.25 billion, a PE ratio of 67.30, a price-to-earnings-growth ratio of 0.59 and a beta of 2.40. The company has a 50-day moving average of $18.68 and a two-hundred day moving average of $31.60.

Analyst Ratings Changes

A number of brokerages have issued reports on APPS. Macquarie dropped their target price on shares of Digital Turbine from $70.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. B. Riley initiated coverage on shares of Digital Turbine in a research report on Tuesday, June 28th. They issued a “buy” rating and a $29.00 price target on the stock. Oppenheimer lowered their price target on shares of Digital Turbine from $117.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 1st. Finally, Craig Hallum lowered their price target on shares of Digital Turbine from $105.00 to $85.00 in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.00.

Institutional Trading of Digital Turbine

Several hedge funds and other institutional investors have recently bought and sold shares of APPS. Quantbot Technologies LP acquired a new stake in shares of Digital Turbine during the first quarter worth $58,000. Canada Pension Plan Investment Board acquired a new position in Digital Turbine in the first quarter valued at $73,000. Vontobel Holding Ltd. acquired a new position in Digital Turbine in the first quarter valued at $272,000. First Republic Investment Management Inc. acquired a new position in Digital Turbine in the first quarter valued at $304,000. Finally, Point72 Hong Kong Ltd acquired a new position in Digital Turbine in the first quarter valued at $324,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

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Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising, and sponsored and editorial content media.