Granahan Investment Management LLC Takes $585,000 Position in Digital Turbine, Inc. $APPS

Granahan Investment Management LLC purchased a new position in Digital Turbine, Inc. (NASDAQ:APPS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 215,558 shares of the software maker’s stock, valued at approximately $585,000. Granahan Investment Management LLC owned about 0.21% of Digital Turbine at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Digital Turbine in the 1st quarter valued at $45,000. ProShare Advisors LLC grew 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 buying an additional 8,892 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Digital Turbine by 94.3% in the fourth 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. purchased a new position in shares of Digital Turbine in the first quarter worth about $47,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Digital Turbine in the first quarter worth about $51,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Price Performance

Shares of APPS stock opened at $4.46 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $483.37 million, a PE ratio of -5.79, a price-to-earnings-growth ratio of 2.71 and a beta of 2.29. The firm’s 50-day moving average is $4.91 and its two-hundred day moving average 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) last posted 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 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. Analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APPS shares. Wall Street Zen cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Craig Hallum boosted their target price on Digital Turbine from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Bank of America upgraded Digital Turbine from an “underperform” rating to a “neutral” rating and upped their price target for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine has a consensus rating of “Hold” and an average price target of $5.17.

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.