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 8.47% to 4.03 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 4.61% valued currently at $50.6 million. In addition, Greenhaven Road Investment Manage… raised its holdings by 0.19 million to 2.61 million shares. And Granahan Investment Management, I… has lifted its position by 226.82% or 1.52 million shares – to 2.19 million shares.
With over 4.08 million Digital Turbine Inc. (APPS) shares trading Friday and a closing price of $13.88 on the day, the dollar volume was approximately $56.66 million. The shares have shown a positive weekly performance of 13.86% and its price on 07/31/20 gained nearly 3.89%. Currently, there are 86.77M common shares owned by the public and among those 83.67M shares have been available to trade.
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 $12.54. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $9.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Digital Turbine Inc. stock is 1.70 for the next 12 months. The average price target is -10.69% below its last price level and a downside to the estimated low will see the stock lose -46.11% over that period. But an upside of 7.47% will see the stock hit the forecast high price target while mean target price for the stock is $12.25.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 423,491 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 78,000 shares.
The top 3 mutual fund holders in Digital Turbine Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 2.25 million shares of the company’s stock, all valued at over $28.27 million. The company bought an additional 0.21 million shares recently to bring their total holdings to about 2.58% of the shares outstanding. iShares Russell 2000 ETF sold 43086.0 shares to see its total holdings shrink to 1.7 million shares valued at over $21.32 million and representing 1.94% of the shares outstanding. Vanguard Extended Market Index Fu sold 16600.0 shares to bring its total holdings to over 0.94 million shares at a value of $11.78 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.07% of the shares outstanding.
Shares of Digital Turbine Inc. (NASDAQ: APPS) opened at $13.75, up $0.39 from a prior closing price of $13.36. However, the script later closed the day at $13.88, up 3.89%. The company’s stock has a 5-day price change of 13.86% and 157.99% over the past three months. APPS shares are trading 94.67% year to date (YTD), with the 12-month market performance up to 148.75% higher. It has a 12-month low price of $3.48 and touched a high of $13.96 over the same period. Currently, 4.08 million shares have been traded, compared to an average intraday trading volume of 2.43 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 8.83%, 30.69%, and 84.60% respectively.
Institutional ownership of Digital Turbine Inc. (NASDAQ: APPS) shares accounts for 61.10% of the company’s 86.77M shares outstanding. Mutual fund holders own 20.89%, while other institutional holders and individual stakeholders account for 43.18% and 12.08% respectively.
It has a market capitalization of $1.23B and a beta (3y monthly) value of 1.76. The stock’s trailing 12-month PE ratio is 88.41, while the earnings-per-share (ttm) stands at $0.16. The company has a PEG of 1.77 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.69% over the week and 5.76% over the month.
Analysts forecast that Digital Turbine Inc. (APPS) will achieve an EPS of $0.09 for the current quarter, $0.09 for the next quarter and $0.46 for 2022. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.1. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 387.00%, and 23.14% over the next financial year. EPS should grow at an annualized rate of 50.00% over the next five years, compared to 17.60% 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 “Strong Buy” at a consensus score of 1.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the APPS, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Neutral rating for the stock in a research note on July 07, 2020, with the firm’s price target at $12.25. Craig Hallum coverage for the Digital Turbine Inc. (APPS) stock in a research note released on June 30, 2020 offered a Buy rating with a price target of $15. Oppenheimer was of a view on June 25, 2020 that the stock is Outperform, while National Securities gave the stock Buy rating on December 17, 2019, issuing a price target of $11. Canaccord Genuity on their part issued Buy rating on June 27, 2019.