Piper Sandler Lowers Digi International (NASDAQ:DGII) Price Target to $26.00

Digi International (NASDAQ:DGII - Free Report) had its target price reduced by Piper Sandler from $32.00 to $26.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company's stock.

A number of other research firms also recently issued reports on DGII. StockNews.com raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Stephens reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Digi International in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Digi International has a consensus rating of "Moderate Buy" and an average price target of $35.25.

Digi International Price Performance

Shares of NASDAQ:DGII traded up $0.68 during midday trading on Tuesday, hitting $25.83. The company's stock had a trading volume of 235,064 shares, compared to its average volume of 214,121. The company has a market cap of $953.10 million, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Digi International has a 12-month low of $20.17 and a 12-month high of $37.07. The business's 50 day simple moving average is $29.92 and its 200 day simple moving average is $30.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61.

Digi International (NASDAQ:DGII - Get Free Report) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. On average, analysts forecast that Digi International will post 1.68 EPS for the current year.

Institutional Investors Weigh In On Digi International

Institutional investors have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new stake in Digi International in the fourth quarter valued at $1,400,000. Ameriprise Financial Inc. boosted its holdings in Digi International by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock worth $10,880,000 after buying an additional 29,026 shares in the last quarter. GAMMA Investing LLC grew its position in Digi International by 2,467.2% during the first quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock worth $783,000 after buying an additional 27,040 shares during the period. Geode Capital Management LLC increased its holdings in Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock valued at $24,074,000 after buying an additional 11,239 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Digi International by 51.8% in the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company's stock valued at $664,000 after buying an additional 8,235 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

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.