How Far Digital Turbine, Inc. (APPS) Will Fall Today
Stay Ahead of Wall Street. Find out what is happening to Digital Turbine, Inc. (NASDAQ:APPS) stock today? Its price is nose-diving -0.51 points, trading at $7.01 levels, and is down -6.77% from its previous close of $7.52. The shares seem to have an active trading volume day with a reported 817921 contracts so far this session. APPS shares had a relatively better volume day versus average trading capacity of 2.18 million shares, but with a 73.19 million float and a 10.75% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for APPS stock indicates that the average analyst price target is $7.17 per share. This means the stock has a potential increase of 2.28% from where the APPS share price has been trading recently which is between $7.45 and $7.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $8.
During the recent trading session for Digital Turbine, Inc. (NASDAQ:APPS), the company witnessed their stock rise $0.3 over a week and surge $1.23 from the price 20 days ago. When compared to their established 52-week high of $7.84, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/29/19. The recent low of $1.28 stood for a -10.58% since 10/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.42 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for APPS is set at $7.5, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Digital Turbine, Inc., the two-week RSI stands at 52.78. This figure suggests that APPS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current APPS readings is similarly very revealing as it has a stochastic reading of 82.71% at this stage. This figure means that APPS share price today is being oversold.
Technical chart claims that Digital Turbine, Inc. (APPS) would settle between $7.72/share to $7.91/share level. However, if the stock price goes below the $7.39 mark, then the market for Digital Turbine, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.35. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Canaccord Genuity, assumed coverage of APPS assigning Buy rating, according to their opinion released on June 27. ROTH Capital analysts bumped their rating on Digital Turbine, Inc. (NASDAQ:APPS) stock from Neutral to Buy in a separate flash note issued to investors on March 30. Analysts at ROTH Capital lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to September 26.
APPS equity has an average rating of 2.1, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Digital Turbine, Inc. (NASDAQ:APPS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, APPS stock price is currently trading at 35.81X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 130.8. Digital Turbine, Inc. current P/B ratio of 16.8 means it is trading at a premium against its industry’s 7.9.
Digital Turbine, Inc. (APPS)’s current-quarter revenues are projected to climb by nearly 31.1% to hit $31.27 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 28.1% from $103570 to a noteworthy $132670. At the other end of the current quarter income statement, Digital Turbine, Inc. is expected to see its adjusted earnings surge by roughly 200% to hit $0.03 per share. For the fiscal year, APPS’s earnings are projected to climb by roughly 125% to hit $0.18 per share.