Digital Turbine, Inc. (APPS) gains traction, stock up 4%

January 20, 2022 09:44 AM PST | By Versha Jain
 Digital Turbine, Inc. (APPS) gains traction, stock up 4%
Image source: sdecoret,Shutterstock

Highlights

  • Digital Turbine, Inc. (NASDAQ:APPS) is a mobile growth platform.
  • Its revenue increased by 337% to US$310.2 million in the September quarter. 
  • The company entered into a strategic partnership with Google in December 2021 to drive its products and growth strategy.

Digital Turbine, Inc. (NASDAQ:APPS) stock has been gaining traction lately. It was up 4.32% to US$45.59 at 12:02 pm ET on Thursday. Its 90-day average trading volume was 3,332,866.

The stock was drawing attention on Thursday, although there was no company news. On Dec 28, 2021, the company had announced a multi-year strategic partnership with Google.

The collaboration will help boost Digital Turbine's Android product and growth strategy. 

Also Read: Top 5 US gaming stocks to explore in 2022

The Austin, Texas-based company launched its IPO in June 2006. It provides media and mobile communication solutions to advertisers, mobile operators, equipment makers, publishers, etc.

Its current market capitalization is US$4.2 billion, and the P/E ratio is 80.93. The forward P/E for one year is US$33.88. The stock price moved in the range of US$102.56 to US$43.44 in the last 52 weeks and closed at US$43.7 on January 19, 2022. 

Also Read: Best US communication stocks with dividends to watch in 2022

Digital Turbine, Inc. (APPS) stock on investors radar, stock up 4%)

Also Read: 5 best US fintech stocks to consider in 2022

Financials

For the six months ended September 30, 2021, the company earned revenue of US$522.8 million compared to US$129.91 million in the comparable period of 2020. Its revenue increased by 337.57% to US$310.2 million in the September quarter of 2021.  

The company booked a net income of US$8.43 million or US$0.08 per share diluted, compared to US$10.31 million or US$0.11 per share diluted in the corresponding six months of 2020.

As of September 30, 2021, its cash and restricted cash were US$96.2 million, versus US$32.97 million as of September 30, 2020.

Also Read: These 2 NYSE basic industry stocks returned over 200% in a year

Bottomline

The NASDAQ 100 Technology Sector Index rose 8.87% in one year. In contrast, APPS stock fell 24.75% in the same period. Investors should apply due diligence before investing in stocks.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.


Sponsored Articles


Investing Ideas

Previous Next