Digi International (NASDAQ:DGII) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Digi International shares rose above their 200-day moving average of $65.47, reaching $78.64 and closing near $78.22 on trading volume of about 364,345 shares.
• Analyst sentiment remains positive overall, with four Buy ratings and three Holds giving the stock a “Moderate Buy” consensus and an average price target of $82.40.
• The company exceeded quarterly expectations, reporting $0.75 in EPS and $138.67 million in revenue, while revenue increased 29% year over year. Institutional investors own 95.9% of the stock.

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $65.47 and traded as high as $78.64. Digi International shares last traded at $78.22, with a volume of 364,345 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DGII. B. Riley Financial increased their price target on shares of Digi International from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research lowered Digi International from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Piper Sandler increased their price objective on shares of Digi International from $63.00 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Weiss Ratings cut shares of Digi International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. Finally, Roth Capital set a $90.00 target price on shares of Digi International and gave the company a "buy" rating in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.40.

Digi International Price Performance

The company has a 50 day simple moving average of $73.63 and a 200 day simple moving average of $65.47. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 62.08 and a beta of 0.97.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Digi International had a return on equity of 12.16% and a net margin of 9.63%.The company had revenue of $138.67 million for the quarter, compared to analyst estimates of $132.57 million. During the same period last year, the company posted $0.53 earnings per share. The firm's revenue was up 29.0% compared to the same quarter last year. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. As a group, research analysts predict that Digi International Inc. will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Digi International

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Digi International during the second quarter worth $445,526,000. Bank of America Corp DE bought a new position in shares of Digi International in the second quarter valued at approximately $92,680,000. Port Capital LLC acquired a new position in shares of Digi International during the 2nd quarter valued at $24,064,000. Bank of New York Mellon Corp bought a new stake in shares of Digi International in the 2nd quarter worth approximately $16,274,000. Finally, Legal & General Group Plc acquired a new stake in Digi International during the second quarter valued at approximately $6,309,000. Institutional investors own 95.90% of the company's stock.

Digi International Company Profile

Digi International Inc NASDAQ: DGII provides business and industrial Internet of Things (IoT) connectivity solutions. Its products and services help organizations connect, monitor and manage devices, equipment and assets across distributed locations and networks.

The company's offerings include cellular routers and gateways, embedded and system-on-module solutions, industrial networking equipment, console servers and other wireless connectivity products. Digi also provides device-management software, including its Digi Remote Manager platform, which supports the deployment, configuration, monitoring and maintenance of connected devices.

Digi serves customers in industries such as transportation, energy, industrial automation, healthcare, retail and government.

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