Northland Securities Forecasts Strong Price Appreciation for DoubleDown Interactive (NASDAQ:DDI) Stock

DoubleDown Interactive (NASDAQ:DDI) had its price target boosted by equities research analysts at Northland Securities from $18.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ target price would suggest a potential upside of 31.25% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. B. Riley increased their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wedbush increased their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday.

DoubleDown Interactive Price Performance

Shares of DDI opened at $16.00 on Tuesday. DoubleDown Interactive has a fifty-two week low of $7.16 and a fifty-two week high of $18.21. The company has a market capitalization of $792.80 million, a price-to-earnings ratio of 6.96 and a beta of 0.88. The firm has a 50-day simple moving average of $14.50 and a 200-day simple moving average of $13.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.68 and a current ratio of 18.68.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The firm had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 15.07%. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities research analysts anticipate that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent 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.