Digital Turbine (NASDAQ:APPS) Issues FY22 Earnings Guidance

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

Shares of NASDAQ:APPS traded up $1.21 during midday trading on Thursday, hitting $26.49. 24,036 shares of the company’s stock traded hands, compared to its average volume of 2,542,001. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $2.57 billion, a PE ratio of 54.96, a P/E/G ratio of 0.28 and a beta of 2.34. The firm’s fifty day moving average price is $36.05 and its two-hundred day moving average price is $47.45. Digital Turbine has a twelve month low of $21.60 and a twelve month high of $93.98.

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

In other Digital Turbine news, Director Michelle M. Sterling acquired 1,000 shares of the stock in a transaction dated Monday, March 7th. The shares were bought at an average cost of $36.79 per share, for a total transaction of $36,790.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert M. Deutschman acquired 15,000 shares of the stock in a transaction dated Monday, March 14th. The stock was acquired at an average price of $31.66 per share, for a total transaction of $474,900.00. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Digital Turbine by 4.5% in the first 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. Morgan Stanley grew its position in shares of Digital Turbine by 83.6% during the 2nd quarter. Morgan Stanley now owns 876,887 shares of the software maker’s stock worth $66,670,000 after buying an additional 399,216 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Digital Turbine by 38.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 562,724 shares of the software maker’s stock worth $24,653,000 after buying an additional 155,191 shares during the period. Stifel Financial Corp lifted its holdings in shares of Digital Turbine by 178.9% in the 4th quarter. Stifel Financial Corp now owns 227,267 shares of the software maker’s stock worth $13,862,000 after purchasing an additional 145,791 shares in the last quarter. Finally, Penn Capital Management Company LLC lifted its stake in Digital Turbine by 1,301.8% during the 1st quarter. Penn Capital Management Company LLC now owns 143,815 shares of the software maker’s stock valued at $6,722,000 after acquiring an additional 133,556 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

About Digital Turbine (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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