Northland Securities Issues Positive Forecast for DoubleDown Interactive (NASDAQ:DDI) Stock Price

DoubleDown Interactive (NASDAQ:DDI) had its target price boosted by equities researchers at Northland Securities from $18.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 29.07% from the company’s current price.

DDI has been the topic of a number of other research reports. B. Riley increased their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wedbush increased their target price on DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday.

DoubleDown Interactive Price Performance

NASDAQ:DDI traded down $0.73 during mid-day trading on Tuesday, reaching $16.27. 125,070 shares of the company were exchanged, compared to its average volume of 35,064. The company has a fifty day moving average of $14.42 and a 200 day moving average of $13.07. The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05. The stock has a market cap of $806.18 million, a PE ratio of 6.98 and a beta of 0.88. DoubleDown Interactive has a 12 month low of $7.16 and a 12 month high of $18.21.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. The business had revenue of $88.24 million during the quarter, compared to analyst estimates of $83.87 million. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, research analysts anticipate that DoubleDown Interactive will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC grew its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 as of its most recent SEC filing.

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.