Digi International Inc. (NASDAQ:DGII) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Digi International Inc. has received a consensus rating of "Moderate Buy" from six research firms, with an average twelve-month price target of $38.75.
• Recent quarterly earnings exceeded estimates, with the company reporting $0.53 earnings per share and revenues of $107.51 million, showcasing a 2.2% increase year over year.
• Institutional investors hold a significant 95.90% of Digi International's stock, indicating strong confidence in the company's future performance.

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.75.

Several analysts have recently commented on DGII shares. Stephens reaffirmed an "overweight" rating and set a $50.00 price target on shares of Digi International in a research report on Tuesday, August 19th. Roth Capital restated a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. B. Riley upped their price target on Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Digi International in a research report on Wednesday, October 8th. Finally, Piper Sandler upped their target price on shares of Digi International from $30.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th.

Institutional Trading of Digi International

Several institutional investors have recently added to or reduced their stakes in the stock. Geneva Capital Management LLC lifted its stake in Digi International by 5.9% during the second quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company's stock worth $60,322,000 after purchasing an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Digi International by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company's stock valued at $22,736,000 after purchasing an additional 46,659 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Digi International by 2,297.0% in the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock valued at $6,624,000 after purchasing an additional 228,089 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Digi International during the 2nd quarter worth approximately $4,293,000. Finally, Jones Financial Companies Lllp increased its stake in Digi International by 9,344.7% during the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company's stock worth $3,023,000 after buying an additional 107,464 shares during the period. Institutional investors and hedge funds own 95.90% of the company's stock.

Digi International Trading Up 3.0%

Shares of DGII stock opened at $39.06 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. Digi International has a twelve month low of $22.39 and a twelve month high of $39.27. The company's 50-day moving average price is $35.62 and its 200-day moving average price is $33.01. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.22 and a beta of 0.95.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $107.51 million during the quarter, compared to analysts' expectations of $106.23 million. Digi International had a net margin of 10.14% and a return on equity of 10.96%. Digi International's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. As a group, equities analysts predict that Digi International will post 1.68 earnings per share for the current year.

About Digi International

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.

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