APPS Stock Price Up On Announcing Agreement to Buy Fyber N.V.

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Digital Turbine (APPS) has become of the most explosive stocks on the market.

APPS, which provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, has seen its stock run from a low of $10 to nearly $84 a share since November 2020.

From here, APPS could see $100 a share.

Helping, Digital Turbine just announced it just entered into a definitive purchase agreement to acquire approximately 95% of the shares in Fyber N.V., a leading mobile advertising monetization platform empowering global app developers to optimize profitability through quality advertising, as noted in a company press release.

“With its proven expertise in mediation and real-time bidding, Fyber has amassed an extensive network with more than 180 programmatic demand partners that reach a total of 650 million unique monthly active users across more than 180 different countries globally. The Company’s proprietary technology platform and expertise in mediation, real-time bidding, advanced analytics tools, and video combine to deliver publishers and advertisers a uniquely holistic app monetization solution.”

Digital Turbine Crushed Earnings Estimates

All after crushing earnings estimates. The company just said revenue soared 146% to $88.6 million. That was well above the $75.9 million analysts were looking for. Net income came in at $20 million, or 21 cents a share, which was also above expectations for 18 cents. Better, EBITDA tripled to $22.5 million.

Guidance also came in well ahead of expectations. Revenue is expected to be in the range of $298 million to $300 million, compared with the $280.4 million. Adjusted EPS for the year could be $0.67, which would also be ahead of estimates for $0.63.

“Our strong third quarter results represented an acceleration of the breakout momentum achieved in the first half of the fiscal year,” said Bill Stone, CEO.

Ian Cooper’s Personal Position in APPS: None

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