Globeflex Capital L P Makes New Investment in Digital Turbine, Inc. $APPS

Globeflex Capital L P purchased a new stake in Digital Turbine, Inc. (NASDAQ:APPS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 367,860 shares of the software maker’s stock, valued at approximately $4,745,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP lifted its stake in shares of Digital Turbine by 1,323.4% in the fourth quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after acquiring an additional 5,201 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine during the 4th quarter valued at approximately $44,000. Essential Partners LLC increased its position in Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after purchasing an additional 5,652 shares during the period. Smartleaf Asset Management LLC bought a new position in Digital Turbine during the 2nd quarter worth approximately $57,000. Finally, Legal & General Group Plc lifted its position in shares of Digital Turbine by 31.6% in the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after purchasing an additional 2,550 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Analysts Set New Price Targets

APPS has been the topic of a number of analyst reports. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Benchmark boosted their target price on shares of Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Roth Capital reaffirmed a “buy” rating and set a $17.50 price target on shares of Digital Turbine in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

Digital Turbine Stock Performance

APPS opened at $10.87 on Monday. Digital Turbine, Inc. has a 1-year low of $2.74 and a 1-year high of $15.34. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.32 billion, a P/E ratio of -41.81, a price-to-earnings-growth ratio of 0.46 and a beta of 2.81. The company has a fifty day moving average price of $10.52 and a two-hundred day moving average price of $6.63.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. Analysts predict that Digital Turbine, Inc. will post 0.75 EPS for the current fiscal year.

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.