Digital Turbine (APPS) Guidance Looks Too Conservative, PT to $85 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the price target on Digital Turbine (NASDAQ: APPS) to $85.00 (from $105.00) representing more than a 200% return after the company issued June quarter guidance that appears conservative.

The analyst reiterated a Buy rating, stating "We continue to believe the SingleTap software from APPS is game changing for the in-app advertising market and the stock could be a multi-bagger again. In-line March quarter but June revenue guide below as Ukrainian war +worsening economy weigh on ad-spend. APPS guided for flat revs in June versus March, compared to street estimates calling for up 7% sequentially. We believe given the current stock price, APPS guided very conservatively for the June quarter to set the bar low."

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