Digital Turbine Inc (NASDAQ: APPS): Is It A Life-Changing Stock?

In the latest trading session, 1.07 million Digital Turbine Inc (NASDAQ:APPS) shares changed hands as the company’s beta touched 2.59. With the company’s most recent per share price at $3.85 changed hands at -$0.06 or -1.53% at last look, the market valuation stands at $392.78M. APPS’s current price is a discount, trading about -279.48% off its 52-week high of $14.61. The share price had its 52-week low at $3.70, which suggests the last value was 3.9% up since then. When we look at Digital Turbine Inc’s average trading volume, we note the 10-day average is 2.59 million shares, with the 3-month average coming to 2.06.

Digital Turbine Inc (NASDAQ:APPS) trade information

Instantly APPS was in red as seen in intraday trades today. With action -24.80%, the performance over the past five days has been red. The drop to weekly highs of 5.34 subtracted -1.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -43.88%, with the 5-day performance at -24.80% in the red. However, in the 30-day time frame, Digital Turbine Inc (NASDAQ:APPS) is -34.41% down. Looking at the short shares, we see there were 3.03 million shares sold at short interest cover period of 2.11 days.

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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 -58.15% over the past 6 months, a -51.30% in annual growth rate that is considerably lower than the industry average of 20.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Digital Turbine Inc will fall -57.10%, while the growth in revenue is estimated to hit -44.40% for the next quarter. Year-over-year growth is forecast to reach -16.80% 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 $121.64 million. 4 analysts are of the opinion that Digital Turbine Inc’s revenue for the quarter ending Jun 2024 will be $134.98 million. The company’s revenue for the corresponding quarters a year ago was $140.12 million and $146.37 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -13.20%. The estimates for the next quarter sales put growth at -7.80%.

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

If we look at who the major shareholders are, we find that insiders hold 3.98% of Digital Turbine Inc shares while 70.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 73.04%. There are 70.13% 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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