Digi International (NASDAQ:DGII) Releases Q1 2022 Earnings Guidance

Digi International (NASDAQ:DGII) updated its first quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.300-$0.340 for the period, compared to the Thomson Reuters consensus estimate of $0.130. The company issued revenue guidance of $81 million-$85 million, compared to the consensus revenue estimate of $78.65 million.Digi International also updated its FY 2022 guidance to EPS.

Several equities analysts recently weighed in on the company. Roth Capital increased their target price on Digi International from $28.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, November 11th. Canaccord Genuity increased their target price on Digi International from $25.00 to $28.00 and gave the stock a buy rating in a research report on Thursday, November 11th. Finally, Zacks Investment Research downgraded Digi International from a hold rating to a sell rating in a research report on Wednesday, November 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $26.93.

NASDAQ:DGII traded up $0.12 on Thursday, hitting $23.58. 79,483 shares of the stock were exchanged, compared to its average volume of 182,281. The stock has a market capitalization of $804.34 million, a PE ratio of 78.60, a PEG ratio of 2.59 and a beta of 1.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.44 and a current ratio of 4.18. The business has a fifty day moving average of $22.11. Digi International has a fifty-two week low of $16.33 and a fifty-two week high of $25.63.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 10th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. Digi International had a return on equity of 2.34% and a net margin of 3.36%. During the same quarter in the prior year, the company posted $0.15 EPS. Research analysts expect that Digi International will post 0.51 EPS for the current year.

In other news, VP Tracy L. Roberts sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $23.94, for a total value of $957,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.50% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Digi International stock. BNP Paribas Arbitrage SA grew its holdings in shares of Digi International Inc. (NASDAQ:DGII) by 131.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 36,093 shares of the technology company’s stock after acquiring an additional 20,476 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.11% of Digi International worth $759,000 as of its most recent SEC filing. 86.31% of the stock is owned by institutional investors and hedge funds.

Digi International Company Profile

Digi International, Inc provides business and mission-critical Internet of Things (IoT) connectivity products, services and solutions. It operates through the following segments: IoT Products & Services and IoT Solutions. The IoT Products & Services segment offers products and services that help original equipment manufacturers, enterprise and government customers create and deploy, secure IoT connectivity solutions.

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