Digital Turbine (NASDAQ:APPS) plunged in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.14, which missed analysts’ consensus estimate of $0.18 per share. Sales decreased by 23.9% year-over-year, with revenue hitting $140.1 million. This also missed analysts’ expectations.
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Looking forward, management now expects revenue and adjusted earnings per share for Q1 2024 to be in the ranges of $140 million to $145 million and $0.11 to $0.13, respectively. For reference, analysts were expecting $148.53 million in revenue along with an adjusted EPS of $0.22.
Overall, Wall Street has a consensus price target of $12 on APPS stock, with two Buys and one Hold assigned in the past three months.