DoubleDown Interactive (NASDAQ:DDI) Hits New 1-Year High Following Analyst Upgrade

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price reached a new 52-week high on Tuesday after Northland Securities raised their price target on the stock from $18.00 to $21.00. Northland Securities currently has an outperform rating on the stock. DoubleDown Interactive traded as high as $18.17 and last traded at $16.76, with a volume of 32385 shares trading hands. The stock had previously closed at $17.00.

Several other analysts have also issued reports on DDI. Wedbush increased their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday. B. Riley raised their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC grew its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent SEC filing.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.68 and a current ratio of 18.68. The company has a market cap of $792.80 million, a P/E ratio of 6.96 and a beta of 0.88. The firm has a 50 day moving average price of $14.50 and a 200-day moving average price of $13.13.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). DoubleDown Interactive had a return on equity of 15.07% and a net margin of 33.28%. The company had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. During the same period in the previous year, the company earned $0.54 EPS. On average, research analysts predict that DoubleDown Interactive Co., Ltd. will post 2.35 EPS for the current year.

About DoubleDown Interactive

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.