Analysts Set Digi International Inc. (NASDAQ:DGII) Price Target at $38.75

Key Points

• Digi International Inc. has received a consensus rating of "Moderate Buy" from five brokerages, with a price target averaging $38.75.
• For the last quarter, the company reported earnings per share of $0.53, exceeding analyst expectations and showing a year-over-year revenue increase of 2.2%.
• Institutional investors hold 95.90% of Digi International's stock, indicating strong institutional interest and confidence in the company's performance.

Digi International Inc. (NASDAQ:DGII - Get Free Report) has received an average recommendation of "Moderate Buy" from the five research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $38.75.

A number of equities analysts have recently issued reports on the stock. Stephens reissued an "overweight" rating and set a $50.00 price objective on shares of Digi International in a research report on Tuesday, August 19th. Roth Capital reissued a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. B. Riley increased their price objective on shares of Digi International from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Finally, Piper Sandler increased their price objective on shares of Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th.

Institutional Investors Weigh In On Digi International

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGII. Lazard Asset Management LLC bought a new position in shares of Digi International during the 4th quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in shares of Digi International by 67.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock valued at $59,000 after acquiring an additional 685 shares during the period. Farther Finance Advisors LLC grew its position in shares of Digi International by 5,263.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company's stock valued at $71,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Digi International during the 2nd quarter valued at approximately $196,000. Finally, Bearing Point Capital LLC bought a new position in shares of Digi International during the 4th quarter valued at approximately $212,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Digi International Stock Up 0.4%

Shares of DGII stock traded up $0.14 on Monday, reaching $33.88. 130,539 shares of the company were exchanged, compared to its average volume of 190,985. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.19 and a beta of 0.87. The company has a 50-day moving average of $33.75 and a 200-day moving average of $31.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.03. Digi International has a one year low of $22.39 and a one year high of $37.06.

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 analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $107.51 million for 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%. The business's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Analysts anticipate 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.