DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Stock Has Average Target Price of $17.88 According to Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.88.

Several equities analysts recently commented on DDI shares. Canadian Imperial Bank of Commerce set a $16.25 target price on shares of DoubleDown Interactive in a research note on Thursday. B. Riley Financial lowered shares of DoubleDown Interactive from a “buy” rating to a “neutral” rating in a research report on Monday. Roth Capital downgraded shares of DoubleDown Interactive from a “buy” rating to a “neutral” rating and set a $16.25 price objective on the stock. in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Wednesday, November 4th.

DoubleDown Interactive Stock Performance

Shares of NASDAQ DDI opened at $15.72 on Thursday. 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 business’s 50 day moving average is $13.42 and its two-hundred day moving average is $11.22. The company has a market cap of $778.97 million, a P/E ratio of 6.24 and a beta of 1.11. DoubleDown Interactive has a 12 month low of $8.10 and a 12 month high of $15.78.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.23). The business had revenue of $94.27 million during 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%. On average, equities analysts expect that DoubleDown Interactive will post 2.58 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in DoubleDown Interactive in the 3rd quarter valued at approximately $145,000. GAMMA Investing LLC acquired a new stake in shares of DoubleDown Interactive during the 2nd quarter worth approximately $155,000. Eurizon Capital SGR S.p.A. acquired a new stake in DoubleDown Interactive during the third quarter worth $282,000. Aristides Capital LLC boosted its stake in DoubleDown Interactive by 15.5% during the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after buying an additional 5,297 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after buying an additional 19,256 shares in the last quarter.

Key DoubleDown Interactive News

Here’s some of the latest news about DDI:

• Positive Sentiment: Majority owner DoubleU Games commenced an all-cash tender offer for DDI’s remaining ADSs at $16.25 per ADS. DoubleDown’s independent special committee and board recommended that unaffiliated shareholders accept. The offer price is above the $15.72 price cited in the background, potentially providing upside if the transaction closes; completion remains subject to the offer’s terms. Tender offer announcement
• Neutral Sentiment: Brodski & Smith announced an investor investigation involving DoubleDown. The notice provides no specific findings or allegations, so its potential impact is uncertain. Investor investigation notice
• Negative Sentiment: Third-quarter EPS was $0.37, below the $0.60 consensus estimate, despite revenue of $94.27 million topping expectations of $92.64 million. The earnings miss may weigh on sentiment. Quarterly earnings report

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.