DoubleDown Interactive (NASDAQ:DDI) Posts Earnings Results

Key Points

• DoubleDown Interactive reported earnings of $0.44 per share, missing analyst estimates of $0.51 by $0.07.
• The company's stock experienced an increase of $0.02, reaching $9.52 during trading, with a market cap of approximately $471.72 million.
• Analyst ratings have varied, with one upgrade to a "strong-buy" and an average price target of $19.25.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07), Zacks reports. DoubleDown Interactive had a return on equity of 14.21% and a net margin of 34.95%.

DoubleDown Interactive Stock Performance

NASDAQ DDI traded up $0.02 during trading hours on Tuesday, reaching $9.52. The company's stock had a trading volume of 193,897 shares, compared to its average volume of 48,895. The company has a current ratio of 16.04, a quick ratio of 16.04 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $9.84. DoubleDown Interactive has a 52 week low of $8.09 and a 52 week high of $18.21. The stock has a market cap of $471.72 million, a PE ratio of 4.00 and a beta of 0.86.

Hedge Funds Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Goldman Sachs Group Inc. grew its holdings in shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Free Report) by 127.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,790 shares of the company's stock after buying an additional 16,128 shares during the period. Goldman Sachs Group Inc. owned 0.06% of DoubleDown Interactive worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Analyst Ratings Changes

A number of research firms have recently commented on DDI. Wall Street Zen downgraded DoubleDown Interactive from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Roth Capital started coverage on shares of DoubleDown Interactive in a research note on Monday, June 23rd. They set a "buy" rating and a $16.00 price objective for the company. Wedbush upgraded shares of DoubleDown Interactive to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, B. Riley decreased their price objective on shares of DoubleDown Interactive from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $19.25.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.

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