Digital Turbine Inc. (NASDAQ: APPS) stock jumped 0.56% on Wednesday to $14.43 against a previous-day closing price of $14.35. With 3.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.82 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $14.61 whereas the lowest price it dropped to was $14.02. The 52-week range on APPS shows that it touched its highest point at $27.03 and its lowest point at $9.13 during that stretch. It currently has a 1-year price target of $14.83. Beta for the stock currently stands at 2.43.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APPS was up-trending over the past week, with a rise of 8.25%, but this was up by 20.35% over a month. Three-month performance surged to 25.92% while six-month performance fell -10.93%. The stock lost -43.43% in the past year, while it has lost -5.31% so far this year. A look at the trailing 12-month EPS for APPS yields 0.49 with Next year EPS estimates of 1.15. For the next quarter, that number is 0.18. This implies an EPS growth rate of -39.30% for this year and -2.80% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 26.20%.
Float and Shares Shorts:
At present, 99.11 million APPS shares are outstanding with a float of 95.14 million shares on hand for trading. On Apr 27, 2023, short shares totaled 6.55 million, which was 6.60% higher than short shares on Mar 30, 2023. In addition to Mr. William Gordon Stone III as the firm’s CEO & Director, Mr. Matthew Gillis serves as its Pres.
Institutional Ownership:
Through their ownership of 73.11% of APPS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.90% of APPS, in contrast to 28.07% held by mutual funds. Shares owned by individuals account for 11.07%. As the largest shareholder in APPS with 13.58% of the stake, BlackRock Fund Advisors holds 13,474,378 shares worth 13,474,378. A second-largest stockholder of APPS, The Vanguard Group, Inc., holds 10,829,921 shares, controlling over 10.92% of the firm’s shares. Granahan Investment Management, L is the third largest shareholder in APPS, holding 4,408,860 shares or 4.45% stake. With a 6.59% stake in APPS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,532,849 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.93% of APPS stock, is the second-largest Mutual Fund holder. It holds 2,901,678 shares valued at 34.04 million. Vanguard Small Cap Index Fund holds 2.49% of the stake in APPS, owning 2,470,178 shares worth 28.98 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, APPS reported revenue of $188.63M and operating income of $24.43M. The EBITDA in the recently reported quarter was $44.70M and diluted EPS was $0.15.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APPS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APPS analysts setting a high price target of $25.00 and a low target of $9.00, the average target price over the next 12 months is $14.83. Based on these targets, APPS could surge 73.25% to reach the target high and fall by -37.63% to reach the target low. Reaching the average price target will result in a growth of 2.77% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded APPS stock several times over the past three months with 5 Buys and 19 Sells. In these transactions, 165,000 shares were bought while 185,144 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 63 over the past year. The total number of shares bought during that period was 1,208,357 while 564,586 shares were sold.
