On February 1, 2023, B. Riley Securities downgraded their outlook for Digital Turbine from Buy to Neutral.
Analyst Price Forecast Suggests 32.85% Upside
As of February 2, 2023, the average one-year price target for Digital Turbine is $22.28. The forecasts range from a low of $17.17 to a high of $31.50. The average price target represents an increase of 32.85% from its latest reported closing price of $16.77.
The projected annual revenue for Digital Turbine is $739MM, a decrease of 3.34%. The projected annual EPS is $1.44, an increase of 160.64%.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 6,578,624 shares representing 6.64% ownership of the company. In it's prior filing, the firm reported owning 6,144,930 shares, representing an increase of 6.59%. The firm decreased its portfolio allocation in APPS by 10.38% over the last quarter.
Granahan Investment Management holds 3,197,441 shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 3,149,943 shares, representing an increase of 1.49%. The firm decreased its portfolio allocation in APPS by 19.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,782,924 shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 2,564,036 shares, representing an increase of 7.87%. The firm decreased its portfolio allocation in APPS by 6.68% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,384,483 shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 2,198,507 shares, representing an increase of 7.80%. The firm decreased its portfolio allocation in APPS by 6.71% over the last quarter.
IWM - iShares Russell 2000 ETF holds 2,052,613 shares representing 2.07% ownership of the company. In it's prior filing, the firm reported owning 2,093,775 shares, representing a decrease of 2.01%. The firm decreased its portfolio allocation in APPS by 12.42% over the last quarter.
Fund Sentiment
There are 530 funds or institutions reporting positions in Digital Turbine. This is a decrease of 93 owner(s) or 14.93%.
Average portfolio weight of all funds dedicated to US:APPS is 0.1510%, a decrease of 27.0057%. Total shares owned by institutions decreased in the last three months by 11.75% to 70,241K shares.
Digital Turbine Background Information
(This description is provided by the company.)
Digital Turbine simplifies content discovery and delivers relevant content directly to consumer devices. The Company's on-demand media platform powers frictionless app and content discovery, user acquisition and engagement, operational efficiency and monetization opportunities. Digital Turbine's technology platform has been adopted by more than 40 mobile operators and OEMs worldwide, and has delivered more than three billion app preloads for tens of thousands of advertising campaigns. The Company is headquartered in Austin, Texas, with global offices in Arlington, Durham, Mumbai, San Francisco, Singapore and Tel Aviv.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
