DoubleDown Interactive (NASDAQ:DDI) Announces Quarterly Earnings Results

DoubleDown Interactive (NASDAQ:DDI) posted its earnings results on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.23), Zacks reports. The company had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.64 million. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%.

DoubleDown Interactive Stock Performance

NASDAQ:DDI traded down $0.04 during mid-day trading on Thursday, hitting $15.68. 128,594 shares of the company traded hands, compared to its average volume of 123,903. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $13.42 and its 200-day moving average price is $11.22. The firm has a market cap of $776.99 million, a price-to-earnings ratio of 6.22 and a beta of 1.11. DoubleDown Interactive has a one year low of $8.10 and a one year high of $15.78.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. B. Riley Financial cut shares of DoubleDown Interactive from a “buy” rating to a “neutral” rating in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of DoubleDown Interactive in a report on Wednesday, November 4th. Wedbush set a $16.25 target price on shares of DoubleDown Interactive and gave the stock an “outperform” rating in a report on Thursday. Canadian Imperial Bank of Commerce set a $16.25 target price on shares of DoubleDown Interactive in a research report on Thursday. Finally, Roth Capital lowered shares of DoubleDown Interactive from a “buy” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $16.25 in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.19.

About DoubleDown Interactive

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company’s portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.