The share price of Digital Turbine Inc. (NASDAQ:APPS) rose to $12.32 per share on Tuesday from $12.28. While Digital Turbine Inc. has overperformed by 0.33%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, APPS fell by -72.27%, with highs and lows ranging from $46.84 to $9.13, whereas the simple moving average fell by -23.06% in the last 200 days.
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On February 17, 2023, Macquarie Downgraded Digital Turbine Inc. (NASDAQ: APPS) to Neutral. A report published by Oppenheimer on February 09, 2023, Downgraded its rating to ‘Perform’ for APPS. B. Riley Securities also Downgraded APPS shares as ‘Neutral’, setting a target price of $16 on the company’s shares in a report dated February 01, 2023. BofA Securities Initiated an Buy rating on October 17, 2022, and assigned a price target of $24. B. Riley Securities initiated its ‘Buy’ rating for APPS, as published in its report on June 29, 2022. Macquarie’s report from December 07, 2021 suggests a price prediction of $80 for APPS shares, giving the stock a ‘Outperform’ rating. Canaccord Genuity also rated the stock as ‘Buy’.
Analysis of Digital Turbine Inc. (APPS)
Further, the quarter-over-quarter decrease in sales is -25.10%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Digital Turbine Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 8.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and APPS is recording an average volume of 2.39M. On a monthly basis, the volatility of the stock is set at 5.64%, whereas on a weekly basis, it is put at 4.99%, with a gain of 8.36% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.00, showing growth from the present price of $12.32, which can serve as yet another indication of whether APPS is worth investing in or should be passed over.
How Do You Analyze Digital Turbine Inc. Shares?
A leading company in the Software – Application sector, Digital Turbine Inc. (APPS) is based in the USA. When comparing Digital Turbine Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 25.35, there is a growth in quarterly earnings of -42.70%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 70.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in APPS shares?
The recent increase in stakes in APPS appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in APPS has increased by 6.46% in the first quarter. The company now owns 13,911,501 shares of the stock, with a value of $149.41 million, following the purchase of 844,670 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in APPS during the first quarter, upping its stake by 0.81%. During the last quarter, the company picked up 84,456 additional shares for a total stake of worth $112.55 million, bringing number of shares owned by the company to 10,479,098.
During the first quarter, Granahan Investment Management, L added a 243,023 position in APPS. SSgA Funds Management, Inc. purchased an additional 0.16 million shares in the last quarter, increasing its holdings by 5.24%, now holding 3.21 million shares worth $34.51 million. At the end of the first quarter, American Century Investment Manag increased its APPS holdings by 43.73% and now holds 2.14 million APPS shares valued at $23.0 million with the added 0.65 million shares during the period. APPS shares are owned by institutional investors to the tune of 70.40% at present.
