215,558 Shares in Digital Turbine, Inc. $APPS Acquired by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC has acquired a new position in Digital Turbine, Inc. (NASDAQ: APPS) worth approximately $585,000, representing ownership of about 0.21% of the company.
• Other institutional investors have also increased their stakes in Digital Turbine, with a total of 63.66% of the stock owned by institutions and hedge funds.
• Digital Turbine reported earnings of $0.05 per share, missing estimates, while revenue for the quarter reached $130.93 million, exceeding expectations of $121.94 million.

Granahan Investment Management LLC acquired a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 215,558 shares of the software maker's stock, valued at approximately $585,000. Granahan Investment Management LLC owned approximately 0.21% of Digital Turbine as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of APPS. Barclays PLC raised its holdings in shares of Digital Turbine by 9.4% during the 4th quarter. Barclays PLC now owns 276,483 shares of the software maker's stock worth $467,000 after acquiring an additional 23,810 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Digital Turbine by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 170,647 shares of the software maker's stock valued at $289,000 after purchasing an additional 8,929 shares during the last quarter. Bank of America Corp DE boosted its holdings in Digital Turbine by 55.6% in the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after purchasing an additional 724,297 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Digital Turbine by 94.3% in the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after purchasing an additional 13,317 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Digital Turbine in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 63.66% of the company's stock.

Analysts Set New Price Targets

APPS has been the subject of several analyst reports. Wall Street Zen lowered Digital Turbine from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Craig Hallum increased their price objective on Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Bank of America upgraded shares of Digital Turbine from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $4.50 to $5.50 in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Digital Turbine presently has a consensus rating of "Hold" and an average price target of $5.17.

Digital Turbine Trading Up 1.0%

NASDAQ:APPS traded up $0.05 on Thursday, reaching $4.48. 1,229,140 shares of the company's stock were exchanged, compared to its average volume of 5,557,802. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77. The business has a fifty day moving average of $4.83 and a 200-day moving average of $4.23. The firm has a market capitalization of $485.00 million, a price-to-earnings ratio of -5.81, a price-to-earnings-growth ratio of 2.92 and a beta of 2.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.63.

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

Digital Turbine Company 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.