DoubleDown Interactive (NASDAQ:DDI) Given New $21.00 Price Target at Wedbush

DoubleDown Interactive (NASDAQ:DDI) had its price objective increased by Wedbush from $16.25 to $21.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on DDI. Northland Securities lifted their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. B. Riley lifted their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Price Performance

NASDAQ:DDI opened at $16.20 on Tuesday. The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $14.42 and its two-hundred day simple moving average is $13.07. The stock has a market cap of $802.71 million, a PE ratio of 6.95 and a beta of 0.88. DoubleDown Interactive has a 52 week low of $7.16 and a 52 week high of $18.21.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, analysts forecast that DoubleDown Interactive will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC raised its holdings in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent reporting period.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.