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Digital Turbine, Inc. (APPS - Free Report) shares soared from around $7 last year to nearly $100 in March. The mobile app and digital advertising-focused tech firm, which has expanded through acquisitions recently, has seen its stock price fall from its highs. But Wall Street has already started to jump back in amid the tech resurgence that’s pushed the Nasdaq to records, driven by Facebook , Adobe (ADBE - Free Report) , Microsoft (MSFT - Free Report) , and others.
Mobile Expansion
Digital Turbine connects OEMs, mobile operators, and publishers with advertisers and developers for “frictionless app and content discovery, user acquisition and engagement, operational efficiency and monetization opportunities.” The Austin, Texas-headquartered firm boasts it has delivered more than “three billion app preloads for tens of thousands advertising campaigns.”
APPS has also prepared for the future through acquisitions, including its Mobile Posse purchase last March. The firm then acquired AdColony at the end of April, adding proprietary video technologies and rich media formats that deliver “industry-leading third-party verified viewability rates for well-known global brands, such as Disney (DIS - Free Report) .
In a world full of smartphones and consumer tech, with everyone addicted to their devices from Apple (AAPL - Free Report) to Samsung, Digital Turbine is poised to grow. In fact, APPS has landed on Deloitte's Technology Fast 500 list multiple times in the last several years. And Digital Turbine has announced and completed other acquisitions in the last several months that help provide an “opportunity to significantly increase” its share of the “$300+ billion mobile media advertising market.”
Image Source: Zacks Investment Research
Other Fundamentals
Digital Turbine beat our Zacks fourth quarter fiscal 2021 estimates on June 1, with its revenue up 126% to top FY20’s 34% jump. Looking ahead, our estimates call for its revenue to skyrocket 258% from $314 million to $1.1 billion in FY22. APPS is then projected to follow up these acquisition-driven years with another 30% expansion next year.
Meanwhile, its adjusted earnings are expected to surge 111% to hit $1.56 a share this year, before climbing another 52% in fiscal 2023. Plus, analysts raised their bottom-line outlooks on its strong guidance, with its FY22 consensus up 26% and FY22 28% higher.
As we touched on at the top, APPS skyrocketed from $7 a share last year to roughly $100 in March. Digital Turbine then slipped back to Earth, as Wall Street sold pandemic high-flyers. The pullback provided a healthy recalibration for the mobile app technology company.
Buyers jumped in after it tumbled nearly 40%. The stock has climbed 30% since May 12, having recently broken above its 50-day moving average. The stock closed regular trading Wednesday still 20% below its records at $76 a share, proving plenty of more potential runway.
Digital Turbine also sits near neutral RSI levels (50) at 56 at the moment. And APPS trades at a 40% discount to its own year-long median at 6.0X forward 12-month sales.
Bottom Line
Overall, Digital Turbine’s positive earnings revisions help it land a Zacks Rank #1 (Strong Buy) right now, alongside its “A” grade for Growth in our Style Scores system. On top of that, four of the five brokerage recommendations Zacks has for Digital Turbine are “Strong Buys,” with the other at a “Hold.”
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Buy This Strong Growth Tech Stock in Q3 and Hold?
Digital Turbine, Inc. (APPS - Free Report) shares soared from around $7 last year to nearly $100 in March. The mobile app and digital advertising-focused tech firm, which has expanded through acquisitions recently, has seen its stock price fall from its highs. But Wall Street has already started to jump back in amid the tech resurgence that’s pushed the Nasdaq to records, driven by Facebook , Adobe (ADBE - Free Report) , Microsoft (MSFT - Free Report) , and others.
Mobile Expansion
Digital Turbine connects OEMs, mobile operators, and publishers with advertisers and developers for “frictionless app and content discovery, user acquisition and engagement, operational efficiency and monetization opportunities.” The Austin, Texas-headquartered firm boasts it has delivered more than “three billion app preloads for tens of thousands advertising campaigns.”
APPS has also prepared for the future through acquisitions, including its Mobile Posse purchase last March. The firm then acquired AdColony at the end of April, adding proprietary video technologies and rich media formats that deliver “industry-leading third-party verified viewability rates for well-known global brands, such as Disney (DIS - Free Report) .
In a world full of smartphones and consumer tech, with everyone addicted to their devices from Apple (AAPL - Free Report) to Samsung, Digital Turbine is poised to grow. In fact, APPS has landed on Deloitte's Technology Fast 500 list multiple times in the last several years. And Digital Turbine has announced and completed other acquisitions in the last several months that help provide an “opportunity to significantly increase” its share of the “$300+ billion mobile media advertising market.”
Other Fundamentals
Digital Turbine beat our Zacks fourth quarter fiscal 2021 estimates on June 1, with its revenue up 126% to top FY20’s 34% jump. Looking ahead, our estimates call for its revenue to skyrocket 258% from $314 million to $1.1 billion in FY22. APPS is then projected to follow up these acquisition-driven years with another 30% expansion next year.
Meanwhile, its adjusted earnings are expected to surge 111% to hit $1.56 a share this year, before climbing another 52% in fiscal 2023. Plus, analysts raised their bottom-line outlooks on its strong guidance, with its FY22 consensus up 26% and FY22 28% higher.
As we touched on at the top, APPS skyrocketed from $7 a share last year to roughly $100 in March. Digital Turbine then slipped back to Earth, as Wall Street sold pandemic high-flyers. The pullback provided a healthy recalibration for the mobile app technology company.
Buyers jumped in after it tumbled nearly 40%. The stock has climbed 30% since May 12, having recently broken above its 50-day moving average. The stock closed regular trading Wednesday still 20% below its records at $76 a share, proving plenty of more potential runway.
Digital Turbine also sits near neutral RSI levels (50) at 56 at the moment. And APPS trades at a 40% discount to its own year-long median at 6.0X forward 12-month sales.
Bottom Line
Overall, Digital Turbine’s positive earnings revisions help it land a Zacks Rank #1 (Strong Buy) right now, alongside its “A” grade for Growth in our Style Scores system. On top of that, four of the five brokerage recommendations Zacks has for Digital Turbine are “Strong Buys,” with the other at a “Hold.”
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>