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.
