DoubleDown Interactive (NASDAQ:DDI) Given New $14.75 Price Target at Wedbush

DoubleDown Interactive (NASDAQ:DDI) had its price objective hoisted by stock analysts at Wedbush from $13.50 to $14.75 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 34.58% from the stock’s current price.

DoubleDown Interactive Stock Performance

NASDAQ DDI opened at $10.96 on Thursday. DoubleDown Interactive has a 12 month low of $6.95 and a 12 month high of $15.96. The company’s 50-day moving average price is $11.52 and its 200-day moving average price is $9.91.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Tuesday, February 13th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $83.10 million for the quarter, compared to analyst estimates of $76.42 million. DoubleDown Interactive had a net margin of 32.51% and a return on equity of 14.62%. As a group, equities research analysts expect that DoubleDown Interactive will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. bought a new position in DoubleDown Interactive in the fourth quarter worth approximately $82,000. B. Riley Financial Inc. raised its position in shares of DoubleDown Interactive by 0.5% in the 3rd quarter. B. Riley Financial Inc. now owns 4,044,876 shares of the company’s stock worth $34,301,000 after acquiring an additional 20,356 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV purchased a new stake in shares of DoubleDown Interactive during the 4th quarter worth $514,000.

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.