DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Receives $18.60 Consensus Price Target from Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.60.

DDI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Wedbush reissued an “outperform” rating and set a $21.00 price objective on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, January 21st. Finally, Loop Capital set a $16.00 target price on shares of DoubleDown Interactive in a research note on Monday, November 3rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hudson Bay Capital Management LP bought a new position in DoubleDown Interactive in the second quarter worth $5,759,000. 683 Capital Management LLC purchased a new stake in shares of DoubleDown Interactive in the 2nd quarter worth about $2,632,000. Boston Partners increased its stake in shares of DoubleDown Interactive by 53.7% in the 2nd quarter. Boston Partners now owns 75,528 shares of the company’s stock worth $723,000 after acquiring an additional 26,379 shares in the last quarter. Black Maple Capital Management LP purchased a new position in DoubleDown Interactive during the 2nd quarter valued at about $478,000. Finally, SG Americas Securities LLC boosted its stake in DoubleDown Interactive by 84.4% during the fourth quarter. SG Americas Securities LLC now owns 63,016 shares of the company’s stock worth $544,000 after acquiring an additional 28,850 shares in the last quarter.

DoubleDown Interactive Trading Up 1.7%

DoubleDown Interactive stock opened at $8.57 on Friday. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $9.11.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Monday, November 10th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%.The business had revenue of $95.85 million during the quarter, compared to analyst estimates of $94.28 million. On average, analysts expect that DoubleDown Interactive will post 2.28 earnings per share for the current year.

DoubleDown Interactive Company Profile

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.