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

DoubleDown Interactive (NASDAQ:DDI) had its price target lifted by Northland Securities from $18.00 to $21.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on DDI. Wedbush increased their target price on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday. B. Riley raised their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Trading Down 4.7 %

NASDAQ DDI opened at $16.20 on Tuesday. DoubleDown Interactive has a 12 month low of $7.16 and a 12 month high of $18.21. The stock has a 50-day simple moving average of $14.42 and a 200 day simple moving average of $13.07. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $802.71 million, a PE ratio of 7.04 and a beta of 0.88.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The firm had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a return on equity of 15.07% and a net margin of 33.28%. During the same period in the prior year, the business earned $0.54 earnings per share. Research analysts forecast that DoubleDown Interactive will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to the company in its most recent filing with the SEC. 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 approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the SEC.

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.