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

January 20, 2022 09:44 AM PST | By Versha Jain

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Digital Turbine, Inc. (APPS) gains traction, stock up 4% — Image source: sdecoret,Shutterstock

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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%)

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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.

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