350,000 Shares in Digital Turbine, Inc. $APPS Purchased by Tenzing Global Management LLC

Key Points

• Tenzing Global Management LLC acquired 350,000 shares of Digital Turbine, Inc., valued at approximately $950,000, making it the firm's 20th largest investment.
• Wall Street analysts have varying ratings on Digital Turbine, with one maintaining a "buy" rating and two issuing a "hold" rating, reflecting cautious optimism.
• Digital Turbine reported earnings of $0.05 per share for the last quarter, falling short of the $0.10 consensus estimate, while also noting stronger-than-expected revenue of $130.93 million.

Tenzing Global Management LLC purchased a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 350,000 shares of the software maker's stock, valued at approximately $950,000. Digital Turbine comprises approximately 0.7% of Tenzing Global Management LLC's holdings, making the stock its 20th biggest position. Tenzing Global Management LLC owned about 0.33% of Digital Turbine at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine in the 1st quarter valued at approximately $45,000. ProShare Advisors LLC lifted its holdings in shares of Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock worth $46,000 after purchasing an additional 8,892 shares during the period. Cetera Investment Advisers grew its position 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 buying an additional 13,317 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in Digital Turbine in the 1st quarter valued at $47,000. Finally, Hsbc Holdings PLC purchased a new position in Digital Turbine during the 1st quarter worth $51,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Price Performance

Shares of NASDAQ APPS traded up $0.13 during midday trading on Thursday, hitting $4.56. The company had a trading volume of 3,256,814 shares, compared to its average volume of 5,567,163. The firm has a market capitalization of $494.21 million, a price-to-earnings ratio of -5.92, a price-to-earnings-growth ratio of 2.92 and a beta of 2.29. Digital Turbine, Inc. has a twelve month low of $1.18 and a twelve month high of $7.77. The business has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $4.23. 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 issued its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). The company had revenue of $130.93 million during the quarter, compared to analysts' expectations 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. Equities research analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.