DoubleDown Interactive (NASDAQ:DDI) Stock Price Expected to Rise, Wedbush Analyst Says

by · The Cerbat Gem

DoubleDown Interactive (NASDAQ:DDI – Get Free Report) had its price target raised by analysts at Wedbush from $16.25 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 31.66% from the company’s current price.

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

View Our Latest Stock Report on DDI

DoubleDown Interactive Price Performance

DDI stock traded down $1.05 during midday trading on Tuesday, reaching $15.95. 108,420 shares of the company’s stock traded hands, compared to its average volume of 34,988. The company has a 50-day simple moving average of $14.42 and a two-hundred day simple moving average of $13.07. The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05. The company has a market cap of $790.32 million, a price-to-earnings ratio of 6.85 and a beta of 0.88. DoubleDown Interactive has a 1-year low of $7.16 and a 1-year high of $18.21.

DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. The firm had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, analysts anticipate that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC grew its stake in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Free Report) by 81.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

DoubleDown Interactive Company Profile

(Get Free Report)

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.

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