DoubleDown Interactive (NASDAQ:DDI) Stock Rating Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded DoubleDown Interactive from “buy” to “hold.” The analyst consensus is also “hold,” with one Buy and four Hold ratings and an average price target of $18.19.
• For the latest quarter, DoubleDown reported EPS of $0.37, below the $0.60 consensus estimate, while revenue of $94.27 million topped expectations of $92.64 million.
• The shares opened at $15.77, near their 12-month high of $15.80; the company reported a market capitalization of about $781 million.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on DDI. Weiss Ratings reiterated a "hold (c)" rating on shares of DoubleDown Interactive in a research report on Wednesday, November 4th. Wedbush set a $16.25 price objective on shares of DoubleDown Interactive and gave the company an "outperform" rating in a research report on Thursday. Canadian Imperial Bank of Commerce set a $16.25 price objective on DoubleDown Interactive in a research note on Thursday. B. Riley Financial lowered DoubleDown Interactive from a "buy" rating to a "hold" rating in a research note on Monday, November 9th. Finally, Roth Capital cut DoubleDown Interactive from a "buy" rating to a "neutral" rating and raised their target price for the stock from $16.00 to $16.25 in a report on Thursday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.19.

DoubleDown Interactive Stock Performance

DDI opened at $15.77 on Friday. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03. The company has a market cap of $781.40 million, a price-to-earnings ratio of 7.07 and a beta of 1.11. The company's 50 day moving average is $13.53 and its 200 day moving average is $11.29. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $15.80.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its earnings results on Wednesday, November 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.23). DoubleDown Interactive had a net margin of 29.25% and a return on equity of 11.29%. The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.64 million. On average, equities research analysts predict that DoubleDown Interactive will post 2.41 EPS for the current year.

Institutional Trading of DoubleDown Interactive

Several institutional investors have recently made changes to their positions in the business. Boston Partners boosted its stake in DoubleDown Interactive by 58.6% in the 3rd quarter. Boston Partners now owns 261,806 shares of the company's stock worth $3,479,000 after purchasing an additional 96,755 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of DoubleDown Interactive in the third quarter worth $282,000. R Squared Ltd purchased a new position in shares of DoubleDown Interactive in the third quarter worth $145,000. GAMMA Investing LLC boosted its position in shares of DoubleDown Interactive by 11.3% during the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company's stock worth $200,000 after acquiring an additional 1,532 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock worth $619,000 after acquiring an additional 19,256 shares during the last quarter.

About DoubleDown Interactive

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company's portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.

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