Oppenheimer analyst Timothy Horan downgraded Digital Turbine to Perform from Outperform without a price target. The analyst expects Digital Turbine to trade down after underperforming "muted expectations for the important holiday quarter." The firm says that after "patiently waiting" two years since the AdColony and Fyber acquisitions, the company’s business model is still a work in process with "unclear" long-term growth and profitability.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on APPS:
- APPS Plunges after Dismal Q3 Results, Analyst Downgrade
- Digital Turbine sees FY23 adjusted EPS $1.15-$1.20, consensus $1.41
- Digital Turbine reports Q3 adjusted EPS 29c, consensus 37c
- Digital Turbine options imply 15.5% move in share price post-earnings
- B. Riley downgrades Digital Turbine on app economy softness