Digital Turbine hits lowest since 2020 after results, outlook

Digital Turbine

01/06/2022 14:56

** Shares of Digital Turbine Inc.  APPS.O  were down 12.3% at
$22.29, after hitting their lowest level since August 2020 at
$19.21 in early trading Wed after the mobile growth platform's
results and guidance late Tues disappointed investors
    ** While EPS for its fiscal Q4 was in line with analysts'
forecasts, its rev for the quarter was lower than the mean
estimate, according to Refinitiv data  urn:newsml:reuters.com:*:nL8N2XN67V
    ** Current quarter rev guidance also disappointed
    ** Following the results, Oppenheimer cut its price target
on APPS to $40 from $117
    ** Wall Street's consensus recommendation on the stock is a
"buy," and the median price target on the stock is now at $40,
down from $83 on May 1, per Refinitiv data. 
    ** The stock is down about 63% YTD vs a roughly 22% decline
in the Nasdaq  .IXIC  over that period
 


 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))