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Saturday, September 30, 2023

Digital Turbine Inc. (NASDAQ:APPS) Finding Zero Support

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Digital Turbine Inc. (APPS) shares are trading at lower $37.85 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $41.21.

To add more color to this target, the company’s high over the last year is $43.57 and the low is $3.48. Over the last 52 weeks, APPS is up 368.44% while the S&P 500 is up 15.91%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, APPS reported a profit of $29.7 million. Digital Turbine Inc. also saw revenues increase to $70.89 million. In addition, APPS has free cash flow of $25.49 million as of 09-2020. The company’s EBITDA came in at $13.8 million which compares well with its peers.

APPS booked profit margins of 13.40%, its Return on Equity (ROE) is 34.40%, and its Return on Assets is 15.70%. All told, it is clear that, APPS needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. APPS has a short ratio of 0.70 and outstanding shares of 88.04M.

Company Outlook

APPS has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.73 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.30. Digital Turbine Inc. APPS also noted assets of $208.7 million at the end of the last quarter. Investors should also keep an eye on sector updates as APPS has historically followed its peers on positive news.

All told, Digital Turbine Inc. APPS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, APPS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Digital Turbine Inc. APPS is now commanding a market cap of 3.14B and a float of 85.33M. APPS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of APPS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in APPS, either long or short, and we have not been compensated for this article.

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