American Century Companies Inc. Increases Stake in Digital Turbine, Inc. $APPS

American Century Companies Inc. boosted its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 37.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,206 shares of the software maker’s stock after acquiring an additional 44,620 shares during the period. American Century Companies Inc.’s holdings in Digital Turbine were worth $446,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine during the first quarter valued at about $45,000. Pallas Capital Advisors LLC purchased a new position in Digital Turbine during the 1st quarter valued at approximately $58,000. Cerity Partners LLC purchased a new position in Digital Turbine during the 1st quarter valued at approximately $70,000. ProShare Advisors LLC grew its holdings in Digital Turbine by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock valued at $46,000 after buying an additional 8,892 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Digital Turbine by 94.3% during 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 in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APPS. Craig Hallum raised 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. Wall Street Zen cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Bank of America upgraded Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their price target for the stock 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.17.

Digital Turbine Stock Up 5.2%

Shares of NASDAQ:APPS opened at $4.46 on Friday. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.77. The business has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $4.23. The firm 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 company has a debt-to-equity ratio of 2.63, a current ratio of 1.09 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. The business had revenue of $130.93 million for the quarter, compared to analysts’ expectations of $121.94 million. Digital Turbine has set its FY 2026 guidance at EPS. On average, equities analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Digital Turbine 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.