DoubleDown Interactive (NASDAQ:DDI) Reaches New 12-Month High – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $11.90 and last traded at $11.80, with a volume of 391468 shares traded. The stock had previously closed at $11.55.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DDI. Freedom Capital lowered DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded DoubleDown Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Wedbush lowered their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wall Street Zen lowered DoubleDown Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.67.

DoubleDown Interactive Price Performance

The firm has a market capitalization of $584.69 million, a price-to-earnings ratio of 5.13 and a beta of 1.01. The firm has a 50 day moving average price of $9.28 and a 200-day moving average price of $9.02.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.13. The business had revenue of $94.12 million for the quarter, compared to analysts’ expectations of $94.26 million. DoubleDown Interactive had a return on equity of 12.35% and a net margin of 30.77%. Equities research analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.27 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Several hedge funds have recently modified their holdings of the stock. Aristides Capital LLC raised its stake in shares of DoubleDown Interactive by 4.5% in the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after acquiring an additional 1,480 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of DoubleDown Interactive by 2.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after acquiring an additional 1,789 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of DoubleDown Interactive by 338.6% in the second 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 in the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at $93,000. Finally, Corient Private Wealth LLC acquired a new position in shares of DoubleDown Interactive during the fourth quarter worth $94,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.