DoubleDown Interactive (NASDAQ:DDI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings lowered shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.75.

DoubleDown Interactive Stock Performance

DoubleDown Interactive stock opened at $8.88 on Friday. The stock’s 50 day moving average price is $8.75 and its 200 day moving average price is $8.90. The firm has a market capitalization of $440.00 million, a PE ratio of 4.29 and a beta of 0.84. DoubleDown Interactive has a one year low of $8.09 and a one year high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). The firm had revenue of $95.79 million during the quarter, compared to analyst estimates of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. On average, analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after purchasing an additional 16,128 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of DoubleDown Interactive by 124.7% during the first quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after buying an additional 33,459 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of DoubleDown Interactive by 130.2% during the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock worth $11,782,000 after buying an additional 696,366 shares in the last quarter. 683 Capital Management LLC bought a new stake in shares of DoubleDown Interactive in the second quarter worth $2,632,000. Finally, Black Maple Capital Management LP bought a new stake in shares of DoubleDown Interactive in the second quarter worth $478,000.

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.