Digital Turbine (NASDAQ:APPS) Releases FY22 Earnings Guidance

Digital Turbine (NASDAQ:APPSGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.66-1.68 for the period, compared to the consensus estimate of $1.67. Digital Turbine also updated its FY 2022 guidance to $1.66-$1.68 EPS.

A number of research firms have recently weighed in on APPS. Macquarie lowered their price objective on Digital Turbine from $80.00 to $70.00 and set an outperform rating on the stock in a research report on Wednesday, February 9th. StockNews.com started coverage on Digital Turbine in a research report on Thursday, March 31st. They set a sell rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Digital Turbine currently has an average rating of Buy and a consensus target price of $101.20.

NASDAQ:APPS opened at $27.21 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.70 and a quick ratio of 0.70. Digital Turbine has a 1 year low of $21.60 and a 1 year high of $93.98. The stock’s 50 day simple moving average is $36.31 and its two-hundred day simple moving average is $47.61. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 59.15, a PEG ratio of 0.30 and a beta of 2.34.

In related news, Director Robert M. Deutschman bought 15,000 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was purchased at an average price of $31.66 per share, for a total transaction of $474,900.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michelle M. Sterling bought 1,000 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was bought at an average price of $36.79 per share, with a total value of $36,790.00. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its holdings in Digital Turbine by 18.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,700 shares of the software maker’s stock valued at $600,000 after acquiring an additional 2,135 shares during the period. Walleye Capital LLC purchased a new position in Digital Turbine during the 1st quarter valued at $2,153,000. Worth Venture Partners LLC boosted its holdings in Digital Turbine by 17.2% during the 1st quarter. Worth Venture Partners LLC now owns 19,361 shares of the software maker’s stock valued at $848,000 after acquiring an additional 2,837 shares during the period. Advisors Asset Management Inc. boosted its holdings in Digital Turbine by 1.8% during the 1st quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock valued at $1,199,000 after acquiring an additional 495 shares during the period. Finally, Penn Capital Management Company LLC lifted its holdings in shares of Digital Turbine by 1,301.8% in the 1st quarter. Penn Capital Management Company LLC now owns 143,815 shares of the software maker’s stock worth $6,722,000 after buying an additional 133,556 shares during the period. 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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