Digital Turbine Inc. [NASDAQ: APPS] plunged by -$0.76 during the normal trading session on Wednesday and reaching a high of $11.40 during the day while it closed the day at $10.77. The company report on November 9, 2022 that Digital Turbine Reports Fiscal 2023 Second Quarter Financial Results.
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Second Quarter Revenue Totaled $174.9 Million.
Second Quarter GAAP Net Income of $11.7 Million and GAAP EPS of $0.11; Second Quarter Non-GAAP Adjusted Net Income1 of $35.0 Million and Non GAAP EPS of $0.34.
Digital Turbine Inc. stock has also loss -19.20% of its value over the past 7 days. However, APPS stock has declined by -52.99% in the 3 months of the year. Over the past six months meanwhile, it has lost -53.13% and lost -82.34% year-on date.
The market cap for APPS stock reached $1.05 billion, with 97.82 million shares outstanding and 95.10 million shares in the current float. Compared to the average trading volume of 2.36M shares, APPS reached a trading volume of 3257953 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Digital Turbine Inc. [APPS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APPS shares is $27.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APPS stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Digital Turbine Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 17, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on June 29, 2022, representing the official price target for Digital Turbine Inc. stock. Previously, the target price had yet another raise to $80, while Macquarie analysts kept a Outperform rating on APPS stock. On August 31, 2021, analysts increased their price target for APPS shares from 80 to 95.
The Average True Range (ATR) for Digital Turbine Inc. is set at 1.03, with the Price to Sales ratio for APPS stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 1.83, with the Price to Cash per share for the same quarter was set at 0.91. Price to Free Cash Flow for APPS in the course of the last twelve months was 8.42 with Quick ratio for the last quarter at 1.20.
APPS stock trade performance evaluation
Digital Turbine Inc. [APPS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.20. With this latest performance, APPS shares dropped by -19.27% in over the last four-week period, additionally sinking by -53.13% over the last 6 months – not to mention a drop of -85.18% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APPS stock in for the last two-week period is set at 28.96, with the RSI for the last a single of trading hit 22.43, and the three-weeks RSI is set at 32.92 for Digital Turbine Inc. [APPS]. The present Moving Average for the last 50 days of trading for this stock 15.20, while it was recorded at 11.90 for the last single week of trading, and 26.47 for the last 200 days.
Digital Turbine Inc. [APPS]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Digital Turbine Inc. [APPS] shares currently have an operating margin of +12.34 and a Gross Margin at +39.56. Digital Turbine Inc.’s Net Margin is presently recorded at +4.75.
Return on Equity for this stock inclined to 10.78, with Return on Assets sitting at 4.14.
Digital Turbine Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Earnings per share (EPS) analysis for Digital Turbine Inc. [APPS] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APPS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Digital Turbine Inc. go to 10.00%.
Digital Turbine Inc. [APPS]: Insider Ownership positions
There are presently around $699 million, or 74.30% of APPS stock, in the hands of institutional investors. The top three institutional holders of APPS stocks are: BLACKROCK INC. with ownership of 14,305,958, which is approximately 37.204% of the company’s market cap and around 2.90% of the total institutional ownership; VANGUARD GROUP INC, holding 9,805,708 shares of the stock with an approximate value of $105.61 million in APPS stocks shares; and GRANAHAN INVESTMENT MANAGEMENT, LLC, currently with $33.92 million in APPS stock with ownership of nearly 26.417% of the company’s market capitalization.
Positions in Digital Turbine Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 152 institutional holders increased their position in Digital Turbine Inc. [NASDAQ:APPS] by around 16,313,609 shares. Additionally, 158 investors decreased positions by around 14,674,675 shares, while 36 investors held positions by with 33,955,783 shares. The mentioned changes placed institutional holdings at 64,944,067 shares, according to the latest SEC report filing. APPS stock had 41 new institutional investments in for a total of 3,567,089 shares, while 65 institutional investors sold positions of 3,708,207 shares during the same period.