Granahan Investment Management LLC Boosts Position in Digital Turbine, Inc. $APPS

Key Points

• Granahan Investment Management increased its stake in Digital Turbine by 12% in the first quarter, buying 762,888 more shares and ending with 7.11 million shares valued at about $20.5 million.
• Digital Turbine’s latest earnings beat expectations, with EPS of $0.16 versus the $0.09 estimate and revenue of $142.55 million versus $133.22 million expected.
• Wall Street sentiment has turned more positive, with multiple firms issuing buy ratings; the consensus price target is now $11.00, above the stock’s Friday opening price of $8.45.

Granahan Investment Management LLC lifted its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,112,351 shares of the software maker's stock after purchasing an additional 762,888 shares during the period. Granahan Investment Management LLC owned about 5.93% of Digital Turbine worth $20,484,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. AIGH Capital Management LLC bought a new position in shares of Digital Turbine in the first quarter worth about $14,100,000. Globeflex Capital L P purchased a new position in shares of Digital Turbine during the 1st quarter valued at about $1,227,000. UBS Group AG grew its stake in shares of Digital Turbine by 444.0% during the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker's stock valued at $3,898,000 after acquiring an additional 636,267 shares during the period. S Squared Technology LLC grew its stake in shares of Digital Turbine by 13.0% during the 4th quarter. S Squared Technology LLC now owns 653,571 shares of the software maker's stock valued at $3,268,000 after acquiring an additional 75,000 shares during the period. Finally, GC Wealth Management RIA LLC grew its stake in shares of Digital Turbine by 41.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock valued at $1,660,000 after acquiring an additional 170,134 shares during the period. 63.66% of the stock is owned by institutional investors.

Digital Turbine Trading Up 5.2%

Shares of Digital Turbine stock opened at $8.45 on Friday. Digital Turbine, Inc. has a twelve month low of $2.74 and a twelve month high of $13.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. The business has a 50-day moving average price of $9.03 and a 200-day moving average price of $5.78. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -23.47, a PEG ratio of 0.62 and a beta of 2.75.

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

Wall Street Analyst Weigh In

APPS has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on shares of Digital Turbine in a research note on Tuesday. They set a "buy" rating and a $11.50 target price on the stock. Bank of America upgraded shares of Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price target for the company in a research report on Wednesday, May 27th. Zacks Research raised shares of Digital Turbine from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 28th. 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, Benchmark initiated coverage on shares of Digital Turbine in a research report on Tuesday. They set a "buy" rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Digital Turbine currently has a consensus rating of "Buy" and an average target price of $11.00.

Digital Turbine Company 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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