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Digital Turbine Inc. (NASDAQ: APPS) Stock Forecast: Could Pass $25.00 In A Year

The trading price of Digital Turbine Inc. (NASDAQ:APPS) floating higher at last check on Wednesday, May 24, closing at $14.44, 0.63% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $14.215 and $14.55. The company’s P/E ratio in the trailing 12-month period was 29.53, while its 5Y monthly beta was 2.46. In examining the 52-week price action we see that the stock hit a 52-week high of $27.03 and a 52-week low of $9.13. Over the past month, the stock has gained 20.43% in value.

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Digital Turbine Inc., whose market valuation is $1.45 billion at the time of this writing, is expected to release its quarterly earnings report May 29, 2023 – Jun 02, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.18 per share this quarter, however they have predicted annual earnings per share of $1.18 for 2023 and $1.15 for 2024. It means analysts are expecting annual earnings per share growth of -28.90% this year and -2.50% next year.

Analysts have forecast the company to bring in revenue of $138.66 million for the current quarter, with the likely lows of $134.21 million and highs of $141.2 million. The average estimate suggests sales will likely down by -24.70% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $664.53 million. The company’s revenue is forecast to drop by -11.10% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Digital Turbine Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest APPS has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned APPS a recommendation rating is 7. Out of them, 3 rate it a Hold, while 3 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged Digital Turbine Inc. (APPS) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.95, which symbolizes a positive outlook. A quick review shows that APPS’s price is currently 16.12% off the SMA20 and 20.08% off the SMA50. The RSI metric on the 14-day chart is currently showing 72.58, and weekly volatility stands at 5.41%. When measured over the past 30 days, the indicator reaches 3.94%. Digital Turbine Inc. (NASDAQ:APPS)’s beta value is currently sitting at 2.43, while the Average True Range indicator is currently displaying 0.53. With analysts defining $9.00-$25.00 as the low and high price targets, we arrive at a consensus price target of $14.83 for the trailing 12-month period. The current price is about 37.67% off the estimated low and -73.13% off the forecast high, based on this estimate. Investors will be thrilled if APPS’s share price rises to $13.50, which is the median consensus price. At that level, APPS’s share price would be 6.51% above current price.

To see how Digital Turbine Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: APPS stock’s performance was 0.63% at last check in today’s session, and -43.40% in the past year, while CSG Systems International Inc. (CSGS) has been trading -1.03% in recent session and positioned -17.29% lower than it was a year ago. Another comparable company Amdocs Limited (DOX) saw its stock trading -0.10% lower in today’s session but was up 11.63% in a year. Furthermore, MIND C.T.I. Ltd (MNDO) showed a decrease of -0.03% today while its price kept declining at -21.83% over the past year. Digital Turbine Inc. has a P/E ratio of 29.53, compared to CSG Systems International Inc.’s 26.01 and Amdocs Limited’s 21.18. Also during today’s trading, the S&P 500 Index has plunged -0.89%, while the Dow Jones Industrial also saw a negative session, down -0.72% today.

An evaluation of the daily trading volume of Digital Turbine Inc. (NASDAQ:APPS) indicates that the 3-month average is 1.80 million. However, this figure has increased over the past 10 days to an average of 1.63 million.

Currently, records show that 99.11 million of the company’s shares remain outstanding. The insiders hold 3.00% of outstanding shares, whereas institutions hold 70.40%. The stats also highlight that short interest as of Apr 27, 2023, stood at 6.55 million shares, resulting in a short ratio of 4.38 at that time. From this, we can conclude that short interest is 6.60% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 6.5 million. However, since the stock’s price has seen -5.25% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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