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Should Digital Turbine Inc. (NASDAQ: APPS) Revive After A -216.88% Drop From Highs?

During the recent session, Digital Turbine Inc. (NASDAQ:APPS)’s traded shares were 9.21 million, with the beta value of the company hitting 2.43. At the last check today, the stock’s price was $8.53, reflecting an intraday loss of -40.89% or -$5.9. The 52-week high for the APPS share is $27.03, that puts it down -216.88 from that peak though still a striking -7.03% loss since the share price plummeted to a 52-week low of $9.13. The company’s market capitalization is $1.46B, and the average intraday trading volume over the past 10 days was 1.84 million shares, and the average trade volume was 1.82 million shares over the past three months.

Digital Turbine Inc. (APPS) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.60. APPS has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.22.

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Digital Turbine Inc. (NASDAQ:APPS) trade information

Digital Turbine Inc. (APPS) registered a -40.89% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -40.89% in intraday trading to $8.53 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -39.16%, and it has moved by -28.68% in 30 days. Based on these gigs, the overall price performance for the year is -61.49%. The short interest in Digital Turbine Inc. (NASDAQ:APPS) is 6.55 million shares and it means that shorts have 4.38 day(s) to cover.

The consensus price target of analysts on Wall Street is $12.67, which implies an increase of 32.68% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9.00 and $20.00 respectively. As a result, APPS is trading at a discount of -134.47% off the target high and -5.51% off the low.

Digital Turbine Inc. (APPS) estimates and forecasts

Statistics show that Digital Turbine Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Digital Turbine Inc. (APPS) shares have gone down -48.15% during the last six months, with a year-to-date growth rate less than the industry average at -0.87% against 15.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -42.10% this quarter and then drop -23.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -1.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $148.53 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $156.99 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $188.63 million and $175.01 million respectively. In this case, analysts expect current quarter sales to shrink by -21.30% and then drop by -10.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 26.20%. While earnings are projected to return -39.30% in 2023, the next five years will return 10.00% per annum.

APPS Dividends

Digital Turbine Inc. is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Digital Turbine Inc. (NASDAQ:APPS)’s Major holders

Digital Turbine Inc. insiders own 3.61% of total outstanding shares while institutional holders control 73.11%, with the float percentage being 75.85%. Blackrock Inc. is the largest shareholder of the company, while 363 institutions own stock in it. As of Mar 30, 2023, the company held over 14.27 million shares (or 14.39% of all shares), a total value of $117.94 million in shares.

The next largest institutional holding, with 11.13 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 11.22% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $91.95 million.

Also, the Mutual Funds coming in first place with the largest holdings of Digital Turbine Inc. (APPS) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that iShares Core S&P Smallcap ETF owns about 6.82 million shares. This amounts to just over 6.87 percent of the company’s overall shares, with a $56.35 million market value. The same data shows that the other fund manager holds slightly less at 2.85 million, or about 2.87% of the stock, which is worth about $23.52 million.

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