Digital Turbine (NASDAQ:APPS) Announces Earnings Results, Beats Expectations By $0.07 EPS

Digital Turbine (NASDAQ:APPS) announced its earnings results on Tuesday. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07, FiscalAI reports. Digital Turbine had a negative net margin of 8.93% and a positive return on equity of 21.26%. The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.23 million.

Digital Turbine Trading Up 5.7%

NASDAQ:APPS traded up $0.26 during mid-day trading on Tuesday, reaching $4.81. The company’s stock had a trading volume of 6,472,552 shares, compared to its average volume of 2,700,229. The company’s fifty day simple moving average is $3.53 and its two-hundred day simple moving average is $4.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $8.28. The stock has a market cap of $576.72 million, a P/E ratio of -10.02, a P/E/G ratio of 0.18 and a beta of 2.40.

Institutional Trading of Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after buying an additional 2,449 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 437,310 shares during the period. Strs Ohio purchased a new position in Digital Turbine during the first quarter worth approximately $41,000. Creative Planning raised its stake in Digital Turbine by 39.2% during the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after purchasing an additional 5,991 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Digital Turbine by 272.0% during the second quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock worth $4,049,000 after purchasing an additional 501,829 shares during the period. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APPS has been the subject of several analyst reports. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.75.

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.