Digi International (NASDAQ:DGII) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Digi International's stock has recently surpassed its 200-day moving average, trading at $37.91 after reaching a high of $38.22.
• Analysts have mixed ratings on the stock, with three issuing a "Buy" rating and three a "Hold," while the average price target stands at $38.75.
• The company reported a Q3 earnings per share (EPS) of $0.53, exceeding estimates and showing a 2.2% year-over-year revenue increase.

Digi International Inc. (NASDAQ:DGII - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.82 and traded as high as $38.22. Digi International shares last traded at $37.91, with a volume of 130,207 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Roth Capital reissued a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. B. Riley boosted their price target on Digi International from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Stephens reaffirmed an "overweight" rating and issued a $50.00 price target on shares of Digi International in a research report on Tuesday, August 19th. Piper Sandler boosted their price target on Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Digi International in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Digi International currently has an average rating of "Moderate Buy" and an average price target of $38.75.

Digi International Stock Down 0.8%

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 1.23 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $35.49 and a 200 day moving average price of $32.82.

Digi International (NASDAQ:DGII - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $106.23 million. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Sell-side analysts anticipate that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Digi International by 2,297.0% in the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock valued at $6,624,000 after acquiring an additional 228,089 shares during the period. Hillsdale Investment Management Inc. bought a new position in Digi International in the 2nd quarter valued at about $4,293,000. Jones Financial Companies Lllp raised its holdings in Digi International by 9,344.7% in the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company's stock valued at $3,023,000 after acquiring an additional 107,464 shares during the period. Geneva Capital Management LLC raised its holdings in Digi International by 5.9% in the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company's stock valued at $60,322,000 after acquiring an additional 95,756 shares during the period. Finally, Herald Investment Management Ltd bought a new position in Digi International in the 1st quarter valued at about $2,226,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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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