Digi International (NASDAQ:DGII) Stock Price Expected to Rise, Piper Sandler Analyst Says

Digi International (NASDAQ:DGII) had its price target increased by stock analysts at Piper Sandler from $26.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 1.88% from the stock’s previous close.

Separately, Craig Hallum reissued a “hold” rating and issued a $32.00 price objective (up from $28.00) on shares of Digi International in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Digi International presently has an average rating of “Moderate Buy” and an average target price of $36.75.

Digi International Price Performance

Shares of Digi International stock opened at $31.41 on Thursday. The stock’s fifty day moving average is $29.05 and its 200 day moving average is $26.78. The stock has a market cap of $1.14 billion, a P/E ratio of 51.49, a P/E/G ratio of 1.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. Digi International has a one year low of $20.17 and a one year high of $34.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after buying an additional 3,911 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Digi International during the 1st quarter valued at about $269,000. Cornercap Investment Counsel Inc. bought a new position in shares of Digi International in the 2nd quarter valued at about $498,000. Captrust Financial Advisors grew its position in Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after acquiring an additional 2,418 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after acquiring an additional 8,235 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.