If You’re An Adventuresome Investor, Then Take A Chance On Digital Turbine Inc (NASDAQ: APPS)

In the last trading session, 1.64 million shares of the Digital Turbine Inc (NASDAQ:APPS) were traded, and its beta was 2.48. Most recently the company’s share price was $2.62, and it changed around $0.01 or 0.38% from the last close, which brings the market valuation of the company to $267.29M. APPS currently trades at a discount to its 52-week high of $14.61, offering almost -457.63% off that amount. The share price’s 52-week low was $2.46, which indicates that the current value has risen by an impressive 6.11% since then. We note from Digital Turbine Inc’s average daily trading volume that its 10-day average is 4.45 million shares, with the 3-month average coming to 2.73 million.

Digital Turbine Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.60. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended APPS as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Digital Turbine Inc is expected to report earnings per share of $0.07 for the current quarter.

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Digital Turbine Inc (NASDAQ:APPS) trade information

Instantly APPS has showed a green trend with a performance of 0.38% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -61.81% year-to-date, but still down -5.76% over the last five days. On the other hand, Digital Turbine Inc (NASDAQ:APPS) is -17.09% down in the 30-day period. We can see from the shorts that 8.34 million shares have been sold at a short interest cover period of 2.04 day(s).

The consensus price target as assigned by Wall Street analysts is $40, which translates to bulls needing to increase their stock price by 93.45% from its current value. Analyst projections state that APPS is forecast to be at a low of $40 and a high of $40.

Digital Turbine Inc (APPS) estimates and forecasts

Digital Turbine Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -56.19 percent over the past six months and at a -56.52% annual growth rate that is well below the industry average of 19.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -50.00% in revenue this quarter, and will report a decrease of -50.00% in the next quarter. The year-over-year growth rate is expected to be -17.40%, down from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $117.69 million in revenue for the current quarter. 4 analysts expect Digital Turbine Inc to make $129.99 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $140.12 million and $146.37 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -16.00%. Forecasts for the next quarter put sales growth at -11.20%.

Digital Turbine Inc earnings are expected to increase by -56.33% in 2024, but the outlook is positive 3.40% per year for the next five years.

APPS Dividends

Digital Turbine Inc’s next quarterly earnings report is expected to be released around May 22 and May 27.

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

Upon looking at major shareholders, it appears that insiders hold 4.02% of Digital Turbine Inc shares, and 70.95% of them are in the hands of institutional investors. The stock currently has a share float of 73.93%. Digital Turbine Inc stock is held by 301 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 14.51% of the shares, which is about 14.59 million shares worth $135.37 million.

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

iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 6.11 million shares worth $36.99 million, making up 6.08% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.9 million shares worth around $26.93 million, which represents about 2.89% of the total shares outstanding.