DoubleDown Interactive’s (DDI) Outperform Rating Reaffirmed at Wedbush

DoubleDown Interactive (NASDAQ:DDI)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $21.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 105.08% from the company’s current price.

Separately, Northland Securities cut their price objective on DoubleDown Interactive from $21.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday.

DoubleDown Interactive Stock Performance

Shares of DDI traded down $0.56 during trading hours on Wednesday, hitting $10.24. The stock had a trading volume of 25,338 shares, compared to its average volume of 34,361. The firm has a market capitalization of $507.39 million, a PE ratio of 4.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. DoubleDown Interactive has a 12 month low of $8.56 and a 12 month high of $18.21. The stock has a fifty day moving average price of $10.85 and a 200 day moving average price of $12.91.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data 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 14.78% and a net margin of 33.28%. The business had revenue of $82.98 million during the quarter, compared to analysts’ expectations of $83.49 million. During the same period in the previous year, the business posted $0.54 EPS. Analysts anticipate that DoubleDown Interactive will post 2.38 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in DoubleDown Interactive in the 4th quarter worth about $76,000. JPMorgan Chase & Co. purchased a new position in DoubleDown Interactive during the 3rd quarter valued at $81,000. Raymond James Financial Inc. bought a new position in DoubleDown Interactive in the 4th quarter valued at $153,000. Boston Partners purchased a new stake in DoubleDown Interactive in the fourth quarter worth $354,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of DoubleDown Interactive during the third quarter worth $2,026,000.

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.