DoubleDown Interactive (NASDAQ:DDI) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

DoubleDown Interactive (NASDAQ:DDI) released its earnings results on Monday. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04), Zacks reports. The business had revenue of $82.98 million during the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. During the same period last year, the business earned $0.54 earnings per share.

DoubleDown Interactive Stock Performance

Shares of DoubleDown Interactive stock traded down $0.80 on Tuesday, hitting $16.20. The stock had a trading volume of 176,594 shares, compared to its average volume of 35,300. The company’s 50 day moving average price is $14.42 and its 200 day moving average price is $13.07. The stock has a market cap of $802.71 million, a price-to-earnings ratio of 6.98 and a beta of 0.88. DoubleDown Interactive has a 52-week low of $7.16 and a 52-week high of $18.21. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

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

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.