Globeflex Capital L P Acquires New Stake in Digital Turbine, Inc. $APPS

Key Points

• Globeflex Capital L P opened a new position in Digital Turbine during the first quarter, buying 425,906 shares worth about $1.23 million. The stake represented 0.36% of the company at the end of the reporting period.
• Digital Turbine reported better-than-expected quarterly results, posting EPS of $0.16 versus estimates of $0.09 and revenue of $142.55 million versus $133.22 million expected. Analysts now forecast the company will earn $0.68 per share for the current year.
• Wall Street sentiment has improved, with several firms issuing or upgrading to Buy or Strong Buy ratings. The consensus rating is now Moderate Buy, with an average price target of $11.00.

Globeflex Capital L P acquired a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 425,906 shares of the software maker's stock, valued at approximately $1,227,000. Globeflex Capital L P owned 0.36% of Digital Turbine at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Digital Turbine by 9.4% during the third quarter. Creative Planning now owns 23,286 shares of the software maker's stock valued at $149,000 after buying an additional 1,997 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker's stock valued at $156,000 after buying an additional 2,449 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Digital Turbine by 23.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker's stock valued at $66,000 after buying an additional 2,536 shares in the last quarter. Legal & General Group Plc boosted its stake in Digital Turbine by 31.6% in the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker's stock worth $63,000 after purchasing an additional 2,550 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Digital Turbine by 22.5% during the 2nd quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker's stock valued at $107,000 after purchasing an additional 3,322 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Price Performance

NASDAQ APPS opened at $8.49 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. Digital Turbine, Inc. has a 52 week low of $2.74 and a 52 week high of $13.60. The firm has a market capitalization of $1.03 billion, a P/E ratio of -23.58, a PEG ratio of 0.71 and a beta of 2.75. The company has a 50-day moving average price of $8.87 and a 200-day moving average price of $5.74.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. The company had revenue of $142.55 million during the quarter, compared to analyst estimates of $133.22 million. Equities research analysts anticipate that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Benchmark started coverage on Digital Turbine in a research note on Tuesday. They issued a "buy" rating and a $15.00 target price on the stock. Bank of America raised Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price objective for the company in a research note on Wednesday, May 27th. Wall Street Zen upgraded Digital Turbine from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Weiss Ratings downgraded shares of Digital Turbine from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 5th. Finally, Zacks Research upgraded Digital Turbine from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Digital Turbine Profile

Digital Turbine, Inc NASDAQ: APPS is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company's flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.

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