Wedbush Raises DoubleDown Interactive (NASDAQ:DDI) Price Target to $16.25

DoubleDown Interactive (NASDAQ:DDI) had its target price lifted by Wedbush from $14.75 to $16.25 in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for DoubleDown Interactive’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.60 EPS, FY2024 earnings at $2.46 EPS, Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.61 EPS, FY2025 earnings at $2.31 EPS, Q1 2026 earnings at $0.58 EPS, Q2 2026 earnings at $0.58 EPS and FY2026 earnings at $2.35 EPS.

Several other analysts have also recently commented on the company. Macquarie initiated coverage on DoubleDown Interactive in a research report on Monday, May 20th. They set an outperform rating for the company. B. Riley assumed coverage on shares of DoubleDown Interactive in a research note on Thursday, June 6th. They set a buy rating and a $24.00 target price on the stock.

DoubleDown Interactive Stock Up 5.3 %

DDI opened at $13.21 on Tuesday. The firm’s fifty day simple moving average is $12.17 and its two-hundred day simple moving average is $11.80. DoubleDown Interactive has a 52-week low of $6.95 and a 52-week high of $15.96. The company has a market cap of $654.60 million, a price-to-earnings ratio of 6.14 and a beta of 0.80.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. The firm had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. During the same period last year, the company posted $0.49 EPS. On average, research analysts forecast that DoubleDown Interactive will post 2.07 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Institutional investors have recently modified their holdings of the business. Arbor Capital Management Inc. ADV acquired a new position in DoubleDown Interactive during the 4th quarter worth $514,000. First Trust Direct Indexing L.P. purchased a new position in DoubleDown Interactive in the fourth quarter valued at $82,000. B. Riley Financial Inc. raised its stake in DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after buying an additional 96,740 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of DoubleDown Interactive by 81.6% during the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after acquiring an additional 18,200 shares in the last quarter.

DoubleDown Interactive Company Profile

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.