Wedbush Raises DoubleDown Interactive (NASDAQ:DDI) Price Target to $21.00

DoubleDown Interactive (NASDAQ:DDI) had its target price increased by equities research analysts at Wedbush from $16.25 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 31.25% from the stock’s current price.

Several other brokerages have also recently issued reports on DDI. Northland Securities upped their price target on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. B. Riley raised their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Trading Down 1.2 %

DDI opened at $16.00 on Tuesday. The company’s 50 day moving average is $14.50 and its 200-day moving average is $13.13. The company has a market cap of $792.80 million, a P/E ratio of 6.96 and a beta of 0.88. DoubleDown Interactive has a 1-year low of $7.16 and a 1-year high of $18.21. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Monday, November 11th. The company reported $0.51 earnings per share 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 firm posted $0.54 EPS. Equities research analysts predict that DoubleDown Interactive will post 2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC increased its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent reporting period.

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.