Research Analysts Set Expectations for DDI FY2024 Earnings

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) – Northland Capmk lowered their FY2024 earnings estimates for DoubleDown Interactive in a note issued to investors on Monday, November 11th. Northland Capmk analyst G. Gibas now forecasts that the company will earn $2.37 per share for the year, down from their prior estimate of $2.40. The consensus estimate for DoubleDown Interactive’s current full-year earnings is $2.38 per share.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). The firm had revenue of $82.98 million for the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same period in the previous year, the company posted $0.54 earnings per share.

Several other equities analysts have also commented on DDI. Wedbush increased their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday. Northland Securities increased their price target on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, B. Riley increased their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Stock Performance

DDI stock opened at $15.52 on Thursday. The firm has a market cap of $769.06 million, a price-to-earnings ratio of 6.75 and a beta of 0.88. The firm has a 50-day simple moving average of $14.54 and a two-hundred day simple moving average of $13.14. DoubleDown Interactive has a one year low of $7.16 and a one year high of $18.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.68 and a current ratio of 21.25.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned 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.