The Vanguard Group, Inc. recently announced the acquisition of new stake in Digital Turbine Inc. (NASDAQ:APPS). The institutional investor has increased its shareholding in the Technology company by 0.81% to 10.48 million shares with purchase of 84456.0 shares. This fresh investment now brings its stake to 10.56% valued currently at $122.92 million. In addition, Granahan Investment Management, L raised its holdings by 0.24 million to 3.44 million shares. And SSgA Funds Management, Inc. has lifted its position by 5.24% or 0.16 million shares – to 3.21 million shares.
With over 2.1 million Digital Turbine Inc. (APPS) shares trading Monday and a closing price of $14.36 on the day, the dollar volume was approximately $30.22 million. The shares have shown a negative half year performance of -17.66% and its price on 05/22/23 gained nearly 4.21%. Currently, there are 99.11M common shares owned by the public and among those 95.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for APPS have a consensus price objective of $14.83. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $9.00. The average price target is 3.17% above its recent price level and a downside to the estimated low will see the stock lose -59.56% over that period. But an upside of 42.56% will see the stock hit the forecast high price target while median target price for the stock is $13.50.
Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 1,208,357 shares. Insider sales of the common stock occurred on 63 occasions, with total insider shares sold totaling 564,586 shares.
The top 3 mutual fund holders in Digital Turbine Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.53 million shares of the company’s stock, all valued at over $76.63 million. The company sold 10115.0 shares recently to bring their total holdings to about 6.59% of the shares outstanding. Vanguard Total Stock Market ETF bought 56190.0 shares to see its total holdings expand to 2.9 million shares valued at over $34.04 million and representing 2.93% of the shares outstanding. Vanguard Small Cap Index Fund bought 17994.0 shares to bring its total holdings to over 2.47 million shares at a value of $28.98 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.49% of the shares outstanding.
Shares of Digital Turbine Inc. (NASDAQ: APPS) opened at $13.80, up $0.02 from a prior closing price of $13.78. However, the script later moved the day high at 14.44, up 4.21%. The company’s stock has a 5-day price change of 13.70% and 22.63% over the past three months. APPS shares are trading -5.77% year to date (YTD), with the 12-month market performance down to -45.56% lower. It has a 12-month low price of $9.13 and touched a high of $27.18 over the same period. APPS has an average intraday trading volume of 1.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.58%, 21.25%, and -4.60% respectively.
Institutional ownership of Digital Turbine Inc. (NASDAQ: APPS) shares accounts for 70.40% of the company’s 99.11M shares outstanding. Mutual fund holders own 26.77%, while other institutional holders and individual stakeholders account for 42.52% and 11.07% respectively.
It has a market capitalization of $1.45B and a beta (3y monthly) value of 2.43. The stock’s trailing 12-month PE ratio is 29.55, while the earnings-per-share (ttm) stands at $0.49. The company has a PEG of 2.95 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.48% over the week and 3.97% over the month.
Analysts forecast that Digital Turbine Inc. (APPS) will achieve an EPS of $0.18 for the current quarter, $0.22 for the next quarter and $1.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to decrease by -39.30%, and -2.80% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 26.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Digital Turbine Inc. (APPS) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
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