Brokerages Set DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Target Price at $15.67

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) have earned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.6667.

DDI has been the subject of a number of recent research reports. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wedbush cut their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th.

DoubleDown Interactive Stock Performance

Shares of NASDAQ:DDI opened at $11.43 on Friday. The company has a fifty day moving average of $10.56 and a 200-day moving average of $9.43. The company has a market capitalization of $566.39 million, a PE ratio of 4.97 and a beta of 1.02. DoubleDown Interactive has a 52-week low of $8.09 and a 52-week high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.13. The company had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. On average, equities analysts forecast that DoubleDown Interactive will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the period. Four Tree Island Advisory LLC purchased a new position in shares of DoubleDown Interactive during the 4th quarter valued at $93,000. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth $94,000. XTX Topco Ltd purchased a new position in DoubleDown Interactive in the fourth quarter worth $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth $173,000.

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.