Digital Turbine (NASDAQ:APPS) Drops after Disappointing Fiscal Q3 Results
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Digital Turbine (NASDAQ:APPS) Drops after Disappointing Fiscal Q3 Results

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Mobile advertising platform Digital Turbine dropped in pre-market trading after its disappointing Fiscal Q3 results.

Digital Turbine (NASDAQ:APPS) declined in pre-market trading after the advertising platform’s Fiscal Q3 results left investors disappointed. The company reported adjusted earnings of $0.15 per share compared to $0.29 per share in the same period last year and fell short of consensus estimates of $0.17 per share.

The advertising platform posted revenues of $142.6 million in Q3, a decline of 12% year-over-year, and again fell below Street estimates of $146.2 million.

In FY24, Digital Turbine estimates revenues of between $547 million and $553 million and adjusted earnings in the range of $0.50 to $0.54 per share.

Is APPS a Good Stock to Buy?

Analysts remain sidelined about APPS stock with a Hold consensus rating based on one Buy and four Holds. Over the past year, APPS has declined by more than 65%, and the average APPS price target of $5.50 implies an upside potential of 9.1% at current levels.


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