Ieq Capital LLC Purchases 121,700 Shares of Digital Turbine, Inc. $APPS

Key Points

• Ieq Capital LLC has significantly increased its stake in Digital Turbine, Inc. by 373.6%, owning 154,279 shares worth approximately $419,000 as of the latest quarter.
• Equities research analysts have mixed opinions on Digital Turbine, with one upgrading its rating to "neutral" and another downgrading it to "hold," while the consensus rating remains a "Hold" with a target price of $5.17.
• Digital Turbine reported disappointing earnings, with an EPS of $0.05 that fell short of expectations, although revenues of $130.93 million exceeded analyst estimates.

Ieq Capital LLC boosted its stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 373.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,279 shares of the software maker's stock after purchasing an additional 121,700 shares during the quarter. Ieq Capital LLC owned about 0.15% of Digital Turbine worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Digital Turbine by 29,604.4% in the first quarter. Russell Investments Group Ltd. now owns 821,327 shares of the software maker's stock valued at $2,230,000 after purchasing an additional 818,562 shares in the last quarter. P.A.W. Capital Corp raised its stake in Digital Turbine by 175.0% in the first quarter. P.A.W. Capital Corp now owns 550,000 shares of the software maker's stock valued at $1,493,000 after purchasing an additional 350,000 shares in the last quarter. Bank of America Corp DE raised its stake in Digital Turbine by 55.6% in the fourth 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 in the last quarter. Informed Momentum Co LLC acquired a new position in Digital Turbine in the first quarter valued at about $320,000. Finally, Vanguard Group Inc. grew its position in Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock valued at $24,080,000 after acquiring an additional 893,035 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Craig Hallum lifted their target price on Digital Turbine from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen cut Digital Turbine from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Bank of America upgraded Digital Turbine from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Digital Turbine currently has an average rating of "Hold" and an average price target of $5.17.

Digital Turbine Trading Down 3.1%

Shares of NASDAQ:APPS traded down $0.14 during midday trading on Wednesday, hitting $4.43. 3,151,036 shares of the stock were exchanged, compared to its average volume of 2,571,498. The stock has a market capitalization of $480.12 million, a price-to-earnings ratio of -5.75, a P/E/G ratio of 2.92 and a beta of 2.29. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50-day moving average price is $4.83 and its 200 day moving average price is $4.23. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.77.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly 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). The firm had revenue of $130.93 million for the quarter, compared to the consensus estimate of $121.94 million. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%. Digital Turbine has set its FY 2026 guidance at EPS. Analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

About Digital Turbine

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.