Wedbush Reaffirms Outperform Rating for DoubleDown Interactive (NASDAQ:DDI)

DoubleDown Interactive (NASDAQ:DDI)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They presently have a $21.00 target price on the stock. Wedbush’s price target points to a potential upside of 124.84% from the stock’s current price. Wedbush also issued estimates for DoubleDown Interactive’s FY2025 earnings at $2.20 EPS.

A number of other analysts have also recently commented on DDI. Loop Capital set a $16.00 price target on DoubleDown Interactive in a research report on Monday, November 3rd. Zacks Research cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DoubleDown Interactive currently has an average rating of “Moderate Buy” and an average target price of $18.60.

DoubleDown Interactive Trading Up 2.5%

Shares of DDI stock opened at $9.34 on Tuesday. The company’s fifty day moving average price is $9.13 and its 200-day moving average price is $9.51. The stock has a market cap of $462.80 million, a PE ratio of 4.06 and a beta of 0.85. DoubleDown Interactive has a 12 month low of $8.09 and a 12 month high of $17.31.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The company had revenue of $95.85 million during the quarter, compared to analysts’ expectations of $94.28 million. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 12.92%. On average, sell-side analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the period. Trexquant Investment LP raised its holdings in shares of DoubleDown Interactive by 70.6% during the first quarter. Trexquant Investment LP now owns 17,262 shares of the company’s stock valued at $171,000 after purchasing an additional 7,142 shares during the last quarter. Boston Partners lifted its position in DoubleDown Interactive by 44.8% during the first quarter. Boston Partners now owns 49,149 shares of the company’s stock valued at $487,000 after purchasing an additional 15,196 shares during the period. Goldman Sachs Group Inc. lifted its position in DoubleDown Interactive by 127.4% during the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after purchasing an additional 16,128 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in DoubleDown Interactive by 54.5% in the third quarter. GSA Capital Partners LLP now owns 52,733 shares of the company’s stock worth $493,000 after purchasing an additional 18,602 shares during 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.