DoubleDown Interactive (NASDAQ:DDI) Hits New 52-Week High - Here's Why

Key Points

• DoubleDown Interactive shares reached a new 52-week high, trading as high as $13.14 and closing last at $13.03, up from a prior close of $12.76.
• Analyst sentiment remains mixed: B. Riley raised its price target to $24 and maintained a buy rating, while the broader consensus is “Hold” with a target price of $18.33.
• The company exceeded quarterly expectations, reporting EPS of $0.66 versus $0.61 expected and revenue of $94.29 million versus estimates of $92.90 million. DoubleDown also reported a 32.91% net margin and 12.93% return on equity.

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $13.14 and last traded at $13.03, with a volume of 72613 shares changing hands. The stock had previously closed at $12.76.

Analysts Set New Price Targets

A number of analysts recently weighed in on DDI shares. B. Riley Financial upped their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of DoubleDown Interactive in a report on Friday, August 7th. Freedom Capital downgraded DoubleDown Interactive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen raised DoubleDown Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Wedbush dropped their target price on DoubleDown Interactive from $21.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.33.

DoubleDown Interactive Stock Performance

The firm has a 50-day moving average of $11.68 and a two-hundred day moving average of $10.42. The company has a market capitalization of $643.16 million, a PE ratio of 5.15 and a beta of 1.02. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.The firm had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. Research analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in DoubleDown Interactive during the 2nd quarter worth approximately $155,000. Renaissance Technologies LLC boosted its holdings in DoubleDown Interactive by 35.7% in the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock valued at $619,000 after purchasing an additional 19,256 shares in the last quarter. Aristides Capital LLC raised its stake in shares of DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company's stock worth $334,000 after buying an additional 5,297 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of DoubleDown Interactive during the 4th quarter worth approximately $94,000. Finally, XTX Topco Ltd purchased a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $118,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive NASDAQ: DDI is a digital entertainment company that specializes in the development and publishing of social casino games. The company's portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company's flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.

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