Craig Hallum Forecasts Strong Price Appreciation for Digi International (NASDAQ:DGII) Stock

Digi International (NASDAQ:DGII) had its price target hoisted by stock analysts at Craig Hallum from $50.00 to $75.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target would indicate a potential upside of 27.44% from the company’s current price.

A number of other analysts also recently issued reports on DGII. Wall Street Zen raised Digi International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a research report on Monday, March 23rd. Finally, Zacks Research upgraded Digi International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.80.

Digi International Stock Up 0.7%

Digi International stock opened at $58.85 on Thursday. The company has a market cap of $2.21 billion, a P/E ratio of 52.54 and a beta of 0.94. Digi International has a 1-year low of $27.71 and a 1-year high of $59.40. The company has a fifty day simple moving average of $51.81 and a 200 day simple moving average of $45.81. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Digi International had a net margin of 9.45% and a return on equity of 10.93%. The firm had revenue of $122.46 million for the quarter, compared to analysts’ expectations of $115.90 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts anticipate that Digi International will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Digi International

In other Digi International news, VP David H. Sampsell sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $45.74, for a total value of $228,700.00. Following the sale, the vice president owned 24,740 shares in the company, valued at $1,131,607.60. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James E. Freeland sold 1,355 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $45.84, for a total value of $62,113.20. Following the completion of the sale, the vice president directly owned 19,987 shares of the company’s stock, valued at approximately $916,204.08. The trade was a 6.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,455 shares of company stock worth $616,357. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Digi International

A number of large investors have recently added to or reduced their stakes in DGII. Bessemer Group Inc. lifted its holdings in Digi International by 2,215.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,174 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Digi International by 25.1% in the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after purchasing an additional 339 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Digi International by 1,530.9% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock valued at $123,000 after purchasing an additional 3,169 shares during the last quarter. LSV Asset Management bought a new position in shares of Digi International in the third quarter valued at about $153,000. Finally, FourThought Financial Partners LLC bought a new position in shares of Digi International in the fourth quarter valued at about $204,000. Institutional investors own 95.90% of the company’s stock.

About Digi International

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.