Read How Analysts Reacted To Digital Turbine's Q3 Beat

Analysts continue to see sharp upside despite slashing their price targets on Digital Turbine Inc APPS post Q3 beat.
Macquarie analyst Tim Nollen lowered the firm's price target on Digital Turbine to $70 from $80 (41.6% upside) and kept an Outperform.
Nollen rolled his valuation reference year to FY23 and adjusted his multiple.
Q3 results, including 38% organic revenue growth, confirm his view that IDFA changes are a net positive for Digital Turbine, Nollen notes.
Maxim analyst Allen Klee lowered the price target to $108 from $132 (118% upside) to reflect its peer group valuation compression but reiterated a Buy rating on the shares after its Q3 earnings beat.
Digital Turbine has transformed into a $1 billion-plus annual revenue company with significant mobile ad-tech solutions and competitive advantages with SingleTap, customer data, and independence with limited exposure to Apple Inc's AAPL IDFA privacy rule changes, the analyst adds.
Price Action: APPS shares traded higher by 7.46% at $49.41 on the last check Wednesday.

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