DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Receives $18.60 Average Target Price from Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $18.60.

A number of equities analysts recently commented on DDI shares. Wedbush restated an “outperform” rating and set a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, October 8th. Loop Capital set a $16.00 target price on shares of DoubleDown Interactive in a research report on Monday, November 3rd. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Zacks Research cut shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th.

DoubleDown Interactive Stock Performance

NASDAQ:DDI opened at $8.88 on Tuesday. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $11.25. The firm has a market cap of $433.59 million, a PE ratio of 3.86 and a beta of 0.85. The business has a 50 day moving average price of $8.92 and a 200-day moving average price of $9.25.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Monday, November 10th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The business had revenue of $95.85 million during the quarter, compared to analyst estimates of $94.28 million. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%. Research analysts predict that DoubleDown Interactive will post 2.28 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in DDI. Osaic Holdings Inc. boosted its holdings in DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after acquiring an additional 2,397 shares in the last quarter. Trexquant Investment LP raised its position in shares of DoubleDown Interactive by 70.6% in the 1st quarter. Trexquant Investment LP now owns 17,262 shares of the company’s stock worth $171,000 after purchasing an additional 7,142 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after purchasing an additional 16,128 shares in the last quarter. SG Americas Securities LLC bought a new position in DoubleDown Interactive in the 3rd quarter worth about $319,000. Finally, Black Maple Capital Management LP purchased a new stake in DoubleDown Interactive during the 2nd quarter valued at about $478,000.

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.