Is Digital Turbine Inc (NASDAQ: APPS) Stock Set To Rise More?

In the last trading session, 1.32 million Digital Turbine Inc (NASDAQ:APPS) shares changed hands as the company’s beta touched 2.60. With the company’s per share price at $5.30 changed hands at -$0.01 or -0.19% during last session, the market valuation stood at $536.94M. APPS’s last price was a discount, traded about -262.26% off its 52-week high of $19.20. The share price had its 52-week low at $4.10, which suggests the last value was 22.64% up since then. When we look at Digital Turbine Inc’s average trading volume, we note the 10-day average is 1.94 million shares, with the 3-month average coming to 1.58 million.

Analysts gave the Digital Turbine Inc (APPS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.43. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended APPS as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Digital Turbine Inc’s EPS for the current quarter is expected to be $0.17.

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Digital Turbine Inc (NASDAQ:APPS) trade information

Instantly APPS was in red as seen at the end of in last trading. With action 12.77%, the performance over the past five days has been green. The drop to weekly highs of 5.55 on Monday, 11/20/23 subtracted -0.19% to the stock’s daily price. The company’s shares are showing year-to-date downside of -65.22%, with the 5-day performance at 12.77% in the green. However, in the 30-day time frame, Digital Turbine Inc (NASDAQ:APPS) is 2.91% up. Looking at the short shares, we see there were 4.83 million shares sold at short interest cover period of 3.46 days.

The consensus price target for the stock as assigned by Wall Street analysts is $7.32, meaning bulls need an upside of 27.6% from its current market value. According to analyst projections, APPS’s forecast low is $5.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -126.42% plunge from its current level, while the stock would need to tank 5.66% for it to hit the projected low.

Digital Turbine Inc (APPS) estimates and forecasts

Data shows that the Digital Turbine Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -63.09% over the past 6 months, a -46.09% in annual growth rate that is considerably lower than the industry average of 18.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Digital Turbine Inc will fall -41.40%, while the growth in revenue is estimated to hit -7.10% for the next quarter. Year-over-year growth is forecast to reach -14.00% down from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $146.21 million. 6 analysts are of the opinion that Digital Turbine Inc’s revenue for the quarter ending Mar 2024 will be $136.63 million. The estimates for the next quarter sales put growth at -2.50%.

The 2023 estimates are for Digital Turbine Inc earnings to decrease by -46.72%, but the outlook for the next 5-year period is at 1.80% per year.

APPS Dividends

Digital Turbine Inc is expected to release its next quarterly earnings report between February 06 and February 12.

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

If we look at who the major shareholders are, we find that insiders hold 4.03% of Digital Turbine Inc shares while 76.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.91%. There are 76.69% institutions holding the Digital Turbine Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 14.51% of the shares, roughly 14.59 million APPS shares worth $135.37 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 12.12% or 12.18 million shares worth $113.06 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 6.11 million shares estimated at $36.99 million under it, the former controlled 6.08% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.89% of the shares, roughly 2.9 million shares worth around $26.93 million.

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