Digi International Inc. (NASDAQ:DGII) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Digi International Inc. has received a consensus rating of "Moderate Buy" from analysts, with two hold ratings and three buy ratings.
• The average one-year price objective for Digi International's stock is $37.50, with various recent reports adjusting price targets upward.
• The company's quarterly earnings exceeded expectations, reporting $0.53 EPS on revenue of $107.51 million, indicating a 2.2% increase year-over-year.

Digi International Inc. (NASDAQ:DGII - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $37.50.

DGII has been the subject of several recent research reports. Roth Capital reaffirmed a "buy" rating on shares of Digi International in a report on Thursday. Piper Sandler increased their price target on Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen raised Digi International from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, B. Riley raised their target price on Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday.

Institutional Investors Weigh In On Digi International

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its stake in shares of Digi International by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock valued at $10,880,000 after acquiring an additional 29,026 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Digi International by 2,467.2% during the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock worth $783,000 after purchasing an additional 27,040 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Digi International during the 4th quarter worth approximately $45,000. Pacer Advisors Inc. grew its holdings in shares of Digi International by 2,297.0% during the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock worth $6,624,000 after purchasing an additional 228,089 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Digi International by 16.3% during the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company's stock worth $848,000 after purchasing an additional 3,925 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Digi International Trading Up 0.5%

Shares of DGII stock traded up $0.15 on Thursday, hitting $32.10. 201,490 shares of the stock traded hands, compared to its average volume of 194,173. The firm's 50-day moving average price is $33.72 and its two-hundred day moving average price is $31.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.57. The stock has a market capitalization of $1.19 billion, a PE ratio of 28.41, a PEG ratio of 1.09 and a beta of 0.89. Digi International has a twelve month low of $22.39 and a twelve month high of $37.06.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings results 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. Digi International had a net margin of 10.07% and a return on equity of 11.00%. The business had revenue of $107.51 million for the quarter, compared to analysts' expectations of $106.23 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Digi International will post 1.68 EPS 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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