DoubleDown Interactive (NASDAQ:DDI) Receives Outperform Rating from Wedbush

DoubleDown Interactive (NASDAQ:DDI)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued on Wednesday,Benzinga reports. They currently have a $21.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 105.08% from the company’s previous close.

Separately, Northland Securities lowered their price target on shares of DoubleDown Interactive from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday.

DoubleDown Interactive Stock Down 5.2 %

Shares of DDI stock traded down $0.56 during mid-day trading on Wednesday, hitting $10.24. The stock had a trading volume of 25,338 shares, compared to its average volume of 34,361. DoubleDown Interactive has a 12-month low of $8.56 and a 12-month high of $18.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The firm’s 50-day moving average is $10.85 and its two-hundred day moving average is $12.91. The firm has a market capitalization of $507.39 million, a P/E ratio of 4.45 and a beta of 0.94.

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

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in shares of DoubleDown Interactive in the 4th quarter valued at approximately $76,000. JPMorgan Chase & Co. purchased a new stake in DoubleDown Interactive during the 3rd quarter worth approximately $81,000. Raymond James Financial Inc. acquired a new position in DoubleDown Interactive during the 4th quarter valued at approximately $153,000. Boston Partners acquired a new position in DoubleDown Interactive during the 4th quarter valued at approximately $354,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of DoubleDown Interactive in the third quarter worth $2,026,000.

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.