Allspring Global Investments Holdings LLC Makes New Investment in Digital Turbine, Inc. $APPS

Key Points

• Allspring Global Investments Holdings LLC has acquired a new stake in Digital Turbine, Inc. (NASDAQ: APPS), buying 191,179 shares valued at approximately $1.128 million.
• The company's shares recently dropped by 6.9% and opened at $6.22, reflecting challenging market conditions with a 12-month low of $1.18.
• Analysts have mixed views on Digital Turbine's stock, with one upgrade to a "neutral" rating and another lowering a rating from "buy" to "hold," indicating uncertainty in its current performance.

Allspring Global Investments Holdings LLC acquired a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 191,179 shares of the software maker's stock, valued at approximately $1,128,000. Allspring Global Investments Holdings LLC owned approximately 0.18% of Digital Turbine at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Digital Turbine during the first quarter worth about $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine in the 1st quarter worth about $45,000. Thompson Davis & CO. Inc. purchased a new stake in Digital Turbine during the 1st quarter worth approximately $47,000. Hsbc Holdings PLC acquired a new position in shares of Digital Turbine during the first quarter valued at approximately $51,000. Finally, Cerity Partners LLC purchased a new position in shares of Digital Turbine in the first quarter valued at approximately $70,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Stock Down 6.9%

Shares of APPS opened at $6.22 on Thursday. The company's 50-day moving average price is $5.30 and its 200 day moving average price is $4.80. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63. The firm has a market cap of $674.12 million, a P/E ratio of -8.08, a price-to-earnings-growth ratio of 4.27 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). The company had revenue of $130.93 million for the quarter, compared to analyst estimates of $121.94 million. Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. Digital Turbine has set its FY 2026 guidance at EPS. On average, sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APPS shares. Bank of America upgraded Digital Turbine from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $4.50 to $5.50 in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Digital Turbine from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Digital Turbine in a research report on Wednesday, October 8th. Finally, Craig Hallum boosted their price target on shares of Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Digital Turbine has a consensus rating of "Hold" and an average price target of $5.17.

Digital Turbine Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.

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