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Digital Turbine (APPS) closed the most recent trading day at $15.37, moving -0.84% from the previous trading session. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the mobile software company had lost 39.78% over the past month, lagging the Computer and Technology sector's loss of 8.38% and the S&P 500's loss of 6.69% in that time.
Investors will be hoping for strength from Digital Turbine as it approaches its next earnings release. On that day, Digital Turbine is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 2.94%. Our most recent consensus estimate is calling for quarterly revenue of $184.25 million, down 13.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.72 per share and revenue of $859.85 million, which would represent changes of +3.61% and -20.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Digital Turbine. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.62% lower. Digital Turbine is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Digital Turbine's current valuation metrics, including its Forward P/E ratio of 9.01. This valuation marks a discount compared to its industry's average Forward P/E of 39.81.
We can also see that APPS currently has a PEG ratio of 0.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 2.36 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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