As previously reported, BofA analyst Omar Dessouky downgraded Digital Turbine (APPS) to Underperform from Neutral with a price target of $1, down from $3.50. Increased competition in performance advertising, slower than expected progress from growth initiatives and a lack of a visible catalyst led to the firm’s more cautious view, the analyst tells investors. The revised FY25 growth outlook would imply a third straight year of topline declines and the timeline to resume growth is “increasingly less clear,” the analyst tells investors.
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Read More on APPS:
- Digital Turbine downgraded to Underperform from Neutral at BofA
- Digital Turbine price target lowered to $2 from $3 at Macquarie
- Digital Turbine price target lowered to $4 from $5 at Craig-Hallum
- Digital Turbine Reports Q2 Financial Results Amid Strategic Transformations
- Digital Turbine reports Q2 adjusted EPS 5c, consensus 6c
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