DoubleDown Interactive (NASDAQ:DDI) Reaches New 12-Month High – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s share price reached a new 52-week high on Thursday . The company traded as high as $11.90 and last traded at $11.80, with a volume of 391468 shares trading hands. The stock had previously closed at $11.55.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DDI. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wedbush cut their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wall Street Zen cut DoubleDown Interactive from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded DoubleDown Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.67.

DoubleDown Interactive Price Performance

The stock has a 50-day moving average price of $9.28 and a 200 day moving average price of $9.02. The firm has a market cap of $584.69 million, a price-to-earnings ratio of 5.13 and a beta of 1.01.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a return on equity of 12.35% and a net margin of 30.77%.The business had revenue of $94.12 million for the quarter, compared to analysts’ expectations of $94.26 million. As a group, equities research analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.27 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aristides Capital LLC increased its position in shares of DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after purchasing an additional 1,480 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $94,000. XTX Topco Ltd acquired a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $118,000. Quadrature Capital Ltd acquired a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $180,000. Finally, 683 Capital Management LLC increased its position in shares of DoubleDown Interactive by 66.7% during the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after purchasing an additional 200,000 shares in the last quarter.

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.