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Digital Turbine (APPS - Free Report) is seeing challenging macro conditions. This Zacks Rank #5 (Strong Sell) is expected to see declining earnings in 2022.
Digital Turbine, headquartered in Austin, Texas, is a mobile growth platform for advertisers, publishers, carriers and OEMS. By integrating a full ad stack with proprietary technology built into devices by wireless operators and OEMs, it supercharges advertising and monetization.
It has offices in large cities across the United States, and in London, Berlin, Singapore, and Tel Aviv.
A Beat in Q1 Fiscal 2023
On Aug 8, Digital Turbine reported its fiscal first quarter 2023 results and beat on the Zacks Consensus by $0.03. It has beat 3 out of the last 4 quarters.
Revenue jumped 19% to $188.6 million.
The company said it was experiencing "challenging macro conditions" but was making progress on several strategic initiatives.
Light Guidance
Digital Turbine provided second quarter guidance which was a little light. It guided to second quarter earnings of a range of $0.32 to $0.34 which was below the Zacks Consensus of $0.41.
As a result, the analysts have cut their fiscal 2023 earnings estimates which has pushed down the Zacks Consensus to $1.43 from $1.72 just 60 days ago.
This is an earnings decline of 13.9% compared to last year where the company made $1.66.
Analysts are more bullish for next year, however, with earnings expected to jump 23% to $1.76 but that is down from $2.31 just 60 days ago.
Image Source: Zacks Investment Research
Shares Sink in 2022
Growth stocks are out of favor and Digital Turbine is no exception. The shares have sunk 68.6% this year.
Image Source: Zacks Investment Research
Are they cheap after the big sell-off?
Digital Turbine trades with a forward P/E of just 12.4 so it's a value stock.
But investors should be cautious with companies in the digital advertising market as the economy slows. They might want to stay on the sidelines until the next earnings report.
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Bear of the Day: Digital Turbine (APPS)
Digital Turbine (APPS - Free Report) is seeing challenging macro conditions. This Zacks Rank #5 (Strong Sell) is expected to see declining earnings in 2022.
Digital Turbine, headquartered in Austin, Texas, is a mobile growth platform for advertisers, publishers, carriers and OEMS. By integrating a full ad stack with proprietary technology built into devices by wireless operators and OEMs, it supercharges advertising and monetization.
It has offices in large cities across the United States, and in London, Berlin, Singapore, and Tel Aviv.
A Beat in Q1 Fiscal 2023
On Aug 8, Digital Turbine reported its fiscal first quarter 2023 results and beat on the Zacks Consensus by $0.03. It has beat 3 out of the last 4 quarters.
Revenue jumped 19% to $188.6 million.
The company said it was experiencing "challenging macro conditions" but was making progress on several strategic initiatives.
Light Guidance
Digital Turbine provided second quarter guidance which was a little light. It guided to second quarter earnings of a range of $0.32 to $0.34 which was below the Zacks Consensus of $0.41.
As a result, the analysts have cut their fiscal 2023 earnings estimates which has pushed down the Zacks Consensus to $1.43 from $1.72 just 60 days ago.
This is an earnings decline of 13.9% compared to last year where the company made $1.66.
Analysts are more bullish for next year, however, with earnings expected to jump 23% to $1.76 but that is down from $2.31 just 60 days ago.
Image Source: Zacks Investment Research
Shares Sink in 2022
Growth stocks are out of favor and Digital Turbine is no exception. The shares have sunk 68.6% this year.
Image Source: Zacks Investment Research
Are they cheap after the big sell-off?
Digital Turbine trades with a forward P/E of just 12.4 so it's a value stock.
But investors should be cautious with companies in the digital advertising market as the economy slows. They might want to stay on the sidelines until the next earnings report.