Canaccord Genuity Reiterates Buy Rating for Digi International Inc. (DGII)
Canaccord Genuity restated their buy rating on shares of Digi International Inc. (NASDAQ:DGII) in a research report report published on Friday. They currently have a $15.00 price target on the technology company’s stock.
Several other equities analysts have also recently issued reports on DGII. Benchmark Co. started coverage on Digi International in a research report on Tuesday, April 25th. They set a buy rating and a $16.00 price target on the stock. Zacks Investment Research cut Digi International from a hold rating to a sell rating in a report on Tuesday, May 9th. Sidoti upgraded Digi International from a neutral rating to a buy rating in a report on Tuesday, May 23rd. Finally, TheStreet cut Digi International from a b- rating to a c+ rating in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Digi International has an average rating of Buy and a consensus price target of $15.25.
Shares of Digi International (DGII) opened at 10.45 on Friday. The stock has a market capitalization of $277.14 million, a P/E ratio of 31.76 and a beta of 1.44. Digi International has a 52-week low of $9.00 and a 52-week high of $14.15. The firm’s 50-day moving average price is $9.95 and its 200-day moving average price is $11.35.
Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Digi International had a return on equity of 3.17% and a net margin of 4.74%. The company had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $45.67 million. During the same period last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities analysts forecast that Digi International will post $0.27 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Digi International by 3.4% in the fourth quarter. State Street Corp now owns 710,559 shares of the technology company’s stock worth $9,769,000 after buying an additional 23,146 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Digi International by 12.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,076 shares of the technology company’s stock worth $249,000 after buying an additional 2,065 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock worth $193,000 after buying an additional 860 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Digi International by 48.3% in the first quarter. Nationwide Fund Advisors now owns 55,049 shares of the technology company’s stock worth $655,000 after buying an additional 17,924 shares during the last quarter. Finally, Geneva Advisors LLC purchased a new stake in Digi International during the first quarter worth about $545,000. 76.86% of the stock is owned by institutional investors and hedge funds.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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