Northland Securities Issues Pessimistic Forecast for DoubleDown Interactive (NASDAQ:DDI) Stock Price

DoubleDown Interactive (NASDAQ:DDI) had its target price lowered by equities research analysts at Northland Securities from $21.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 79.28% from the stock’s current price.

Separately, Wedbush boosted their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Stock Up 0.3 %

Shares of DDI opened at $10.04 on Wednesday. The company has a market capitalization of $497.51 million, a PE ratio of 4.37 and a beta of 0.94. DoubleDown Interactive has a 12 month low of $8.56 and a 12 month high of $18.21. The stock’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $12.88. The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, analysts anticipate that DoubleDown Interactive will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in DoubleDown Interactive during the 4th quarter worth approximately $76,000. JPMorgan Chase & Co. acquired a new position in DoubleDown Interactive during the 3rd quarter worth approximately $81,000. Trexquant Investment LP acquired a new position in DoubleDown Interactive during the 4th quarter worth approximately $106,000. Raymond James Financial Inc. bought a new stake in DoubleDown Interactive during the 4th quarter worth approximately $153,000. Finally, Aristides Capital LLC increased its holdings in DoubleDown Interactive by 26.4% during the 4th quarter. Aristides Capital LLC now owns 32,714 shares of the company’s stock worth $342,000 after purchasing an additional 6,841 shares in the last quarter.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.