Digital Turbine (NASDAQ:APPS) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.660-$1.680 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.600. The company issued revenue guidance of $1.23 billion-$1.24 billion, compared to the consensus revenue estimate of $1.21 billion.
Shares of APPS opened at $52.00 on Tuesday. The company has a market capitalization of $5.04 billion, a PE ratio of 96.30, a price-to-earnings-growth ratio of 0.68 and a beta of 2.34. Digital Turbine has a one year low of $35.55 and a one year high of $102.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day moving average price is $51.33 and its 200 day moving average price is $60.98.
Digital Turbine (NASDAQ:APPS) last announced its earnings results on Monday, February 7th. The software maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $375.50 million for the quarter, compared to the consensus estimate of $353.21 million. Digital Turbine had a net margin of 7.50% and a return on equity of 35.19%. The business’s quarterly revenue was up 323.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Analysts anticipate that Digital Turbine will post 1.29 earnings per share for the current year.
APPS has been the topic of several research reports. TheStreet downgraded shares of Digital Turbine from a b rating to a c+ rating in a report on Wednesday, November 10th. Macquarie dropped their price objective on shares of Digital Turbine from $80.00 to $70.00 and set an outperform rating on the stock in a report on Wednesday, February 9th. Oppenheimer boosted their price objective on shares of Digital Turbine from $100.00 to $117.00 and gave the stock an outperform rating in a report on Wednesday, November 3rd. Finally, boosted their price objective on shares of Digital Turbine from $95.00 to $100.00 and gave the stock a buy rating in a report on Wednesday, November 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $103.71.
In other news, Director Robert M. Deutschman purchased 3,000 shares of Digital Turbine stock in a transaction on Wednesday, December 1st. The shares were purchased at an average cost of $51.62 per share, for a total transaction of $154,860.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michelle M. Sterling purchased 1,000 shares of Digital Turbine stock in a transaction on Wednesday, November 24th. The stock was purchased at an average price of $56.98 per share, for a total transaction of $56,980.00. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.
A hedge fund recently raised its stake in Digital Turbine stock. Morgan Stanley lifted its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 83.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 876,887 shares of the software maker’s stock after purchasing an additional 399,216 shares during the period. Morgan Stanley owned approximately 0.91% of Digital Turbine worth $66,670,000 at the end of the most recent reporting period. Institutional investors own 62.74% of the company’s stock.
About Digital Turbine
Digital Turbine, Inc engages in the innovation of media and mobile communications which helps 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 Media Distribution segment, which consists of products and services that simplify the discovery and delivery of mobile applications and content media for consumers.
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