Digi International (NASDAQ:DGII) Price Target Cut to $27.00

Digi International (NASDAQ:DGII) had its price objective trimmed by Piper Sandler from $29.00 to $27.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

DGII has been the topic of a number of other reports. Roth Mkm reduced their price objective on shares of Digi International from $40.00 to $38.00 and set a buy rating on the stock in a research note on Friday, May 3rd. StockNews.com upgraded shares of Digi International from a hold rating to a buy rating in a research note on Saturday, June 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $36.00.

Digi International Price Performance

Shares of DGII stock opened at $25.47 on Monday. The company has a market capitalization of $926.47 million, a PE ratio of 67.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.07. The firm has a fifty day simple moving average of $23.99 and a 200-day simple moving average of $26.96. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. Digi International has a twelve month low of $21.25 and a twelve month high of $42.95.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The firm had revenue of $107.70 million for the quarter, compared to the consensus estimate of $106.97 million. Equities research analysts anticipate that Digi International will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Digi International

Institutional investors and hedge funds have recently modified their holdings of the business. Geneva Capital Management LLC raised its holdings in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock worth $53,887,000 after purchasing an additional 291,618 shares during the period. Summit Creek Advisors LLC raised its holdings in shares of Digi International by 16.5% during the fourth quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after purchasing an additional 42,179 shares during the period. GAMMA Investing LLC raised its holdings in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after purchasing an additional 839 shares during the period. SG Americas Securities LLC raised its holdings in shares of Digi International by 55.0% during the fourth quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company’s stock worth $602,000 after purchasing an additional 8,216 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Digi International during the first quarter worth $78,000. 95.90% of the stock is owned by institutional investors and hedge funds.

About Digi International

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.