Digi International (NASDAQ:DGII) Given New $26.00 Price Target at Piper Sandler

Digi International (NASDAQ:DGII) had its target price reduced by stock analysts at Piper Sandler from $32.00 to $26.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 6.75% from the company’s previous close.

A number of other brokerages have also recently issued reports on DGII. Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research note on Thursday, February 6th. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.25.

Digi International Trading Up 0.8 %

Shares of NASDAQ DGII traded up $0.20 during midday trading on Tuesday, hitting $24.36. The stock had a trading volume of 17,300 shares, compared to its average volume of 210,909. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.06. Digi International has a fifty-two week low of $20.17 and a fifty-two week high of $37.07. The firm has a market cap of $898.68 million, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. The company’s 50-day simple moving average is $30.60 and its 200 day simple moving average is $30.65.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. Research analysts anticipate that Digi International will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Digi International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the period. Ameriprise Financial Inc. raised its position in shares of Digi International by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 29,026 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Digi International during the 4th quarter valued at about $1,400,000. GAMMA Investing LLC grew its position in shares of Digi International by 2,467.2% in the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock valued at $783,000 after purchasing an additional 27,040 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Digi International by 16.3% during the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company’s stock worth $848,000 after purchasing an additional 3,925 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.