Piper Sandler Trims Digi International (NASDAQ:DGII) Target Price to $26.00

Digi International (NASDAQ:DGII) had its price target dropped by stock analysts at Piper Sandler from $27.00 to $26.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective suggests a potential downside of 4.48% from the stock’s previous close.

DGII has been the subject of a number of other research reports. Roth Mkm decreased their price objective on shares of Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. StockNews.com raised shares of Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Digi International Price Performance

NASDAQ:DGII traded down $0.36 during trading hours on Thursday, reaching $27.22. 332,994 shares of the company’s stock were exchanged, compared to its average volume of 200,325. The company has a market capitalization of $990.13 million, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.07. Digi International has a 12 month low of $20.17 and a 12 month high of $33.80. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $23.84 and its two-hundred day simple moving average is $27.09.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 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 $105.20 million during the quarter, compared to analyst estimates of $105.60 million. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Digi International will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Institutional investors have recently modified their holdings of the stock. Geneva Capital Management LLC boosted its stake in shares of Digi International by 20.9% during the 1st quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after buying an additional 291,618 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Digi International by 1,814.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after purchasing an additional 54,746 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Digi International by 216.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock valued at $2,091,000 after purchasing an additional 62,402 shares in the last quarter. Summit Creek Advisors LLC raised its holdings in shares of Digi International by 16.5% during the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock valued at $7,733,000 after purchasing an additional 42,179 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Digi International by 687.7% during the 1st quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after purchasing an additional 839 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Company Profile

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.