DoubleDown Interactive (NASDAQ:DDI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a hold rating to a buy rating in a research report released on Saturday morning.

Other equities analysts also recently issued reports about the company. Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wedbush lowered their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.67.

DoubleDown Interactive Stock Performance

Shares of DoubleDown Interactive stock opened at $12.00 on Friday. The business has a 50-day simple moving average of $9.39 and a 200-day simple moving average of $9.06. The company has a market cap of $594.60 million, a PE ratio of 5.22 and a beta of 1.01. DoubleDown Interactive has a one year low of $8.09 and a one year high of $12.10.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The firm had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. On average, sell-side analysts predict that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Several large investors have recently modified their holdings of DDI. Osaic Holdings Inc. boosted its holdings in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the period. Four Tree Island Advisory LLC acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $94,000. XTX Topco Ltd acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $173,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.