DoubleDown Interactive (NASDAQ:DDI) Price Target Raised to $24.00

DoubleDown Interactive (NASDAQ:DDI) had its price target boosted by B. Riley Financial from $22.00 to $24.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on DDI. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Wedbush decreased their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.33.

DoubleDown Interactive Stock Performance

DDI opened at $12.92 on Wednesday. The firm has a 50 day moving average of $11.59 and a two-hundred day moving average of $10.30. The company has a current ratio of 18.67, a quick ratio of 8.20 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $640.19 million, a PE ratio of 5.13 and a beta of 1.02. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $13.05.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.The business had revenue of $94.29 million during the quarter, compared to analysts’ expectations of $92.90 million. On average, analysts anticipate that DoubleDown Interactive will post 2.58 EPS for the current year.

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in DDI. Goldman Sachs Group Inc. boosted its stake in shares of DoubleDown Interactive by 127.4% in the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after purchasing an additional 16,128 shares during the period. Acadian Asset Management LLC boosted its stake in DoubleDown Interactive by 124.7% during the 1st quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock valued at $591,000 after purchasing an additional 33,459 shares in the last quarter. Ameriprise Financial Inc. grew its position in DoubleDown Interactive by 130.2% in the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock worth $11,782,000 after buying an additional 696,366 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of DoubleDown Interactive in the second quarter valued at $5,759,000. Finally, Osaic Holdings Inc. increased its position in DoubleDown Interactive by 338.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after purchasing an additional 2,397 shares during the last quarter.

DoubleDown Interactive Company Profile

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.