Digital Turbine Inc [NASDAQ: APPS] price plunged by -6.04 percent to reach at -$0.18. The company report on March 1, 2024 at 6:47 PM that Super Micro Computer and Deckers Outdoor Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400 and S&P SmallCap 600.
S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.
S&P MidCap 400 constituents Super Micro Computer Inc. (NASD: SMCI) and Deckers Outdoor Corp. (NYSE: DECK) will replace Whirlpool Corp. (NYSE: WHR) and Zions Bancorporation N.A. (NASD: ZION) in the S&P 500 respectively, and Whirlpool and Zions Bancorporation will replace Super Micro Computer and Deckers Outdoor in the S&P MidCap 400, respectively.
The one-year APPS stock forecast points to a potential upside of 50.88. The average equity rating for APPS stock is currently 2.67, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $5.70 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 2.67. 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.
Craig Hallum have made an estimate for Digital Turbine Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 08, 2024. While these analysts kept the previous recommendation, BofA Securities raised their target price from $12 to $8. The new note on the price target was released on September 14, 2023, representing the official price target for Digital Turbine Inc stock. Previously, the target price had yet another drop from $15 to $10, while ROTH MKM kept a Neutral rating on APPS stock.
The Average True Range (ATR) for Digital Turbine Inc is set at 0.25, with the Price to Sales ratio for APPS stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.48. Price to Free Cash Flow for APPS in the course of the last twelve months was 8.49 with Quick ratio for the last quarter at 1.07.
APPS Stock Performance Analysis:
Digital Turbine Inc [APPS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.79. With this latest performance, APPS shares dropped by -20.23% in over the last four-week period, additionally sinking by -59.65% over the last 6 months – not to mention a drop of -73.38% 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 24.67, with the RSI for the last a single of trading hit 21.45, and the three-weeks RSI is set at 27.77 for Digital Turbine Inc [APPS]. The present Moving Average for the last 50 days of trading for this stock 4.49, while it was recorded at 3.00 for the last single week of trading, and 6.75 for the last 200 days.
Insight into Digital Turbine Inc Fundamentals:
Digital Turbine Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.07 and a Current Ratio set at 1.07.
APPS Stock EPS
With the latest financial reports released by the company, Digital Turbine Inc posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -22.20%. 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 3.40%.
Digital Turbine Inc [APPS] Institutonal Ownership Details
The top three institutional holders of APPS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APPS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APPS stock with ownership which is approximately 5.8325%.
