DoubleDown Interactive (NASDAQ:DDI) Hits New 52-Week High - Should You Buy?

Key Points

• DoubleDown Interactive shares reached a new 52-week high of $13.53 and were last trading at $13.24, above their 50-day and 200-day moving averages.
• Analysts have a consensus “Moderate Buy” rating with an average price target of $18.33; B. Riley raised its target to $24, while other coverage remains at “Hold.”
• The company exceeded quarterly expectations, reporting $0.66 EPS versus $0.61 expected and $94.29 million in revenue versus $92.90 million expected, alongside a 32.91% net margin.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) shares reached a new 52-week high on Tuesday. The stock traded as high as $13.53 and last traded at $13.24, with a volume of 143818 shares changing hands. The stock had previously closed at $13.31.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DDI. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. B. Riley Financial raised their price target on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

DoubleDown Interactive Price Performance

The firm has a 50 day moving average price of $12.62 and a two-hundred day moving average price of $11.34. The company has a market cap of $656.04 million, a P/E ratio of 5.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $94.29 million for the quarter, compared to analysts' expectations of $92.90 million. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. On average, analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDI. 683 Capital Management LLC raised its holdings in DoubleDown Interactive by 66.7% during the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company's stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period. Potomac Capital Management Inc. purchased a new position in shares of DoubleDown Interactive in the fourth quarter valued at $683,000. Renaissance Technologies LLC raised its stake in shares of DoubleDown Interactive by 35.7% during 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 during the period. Aristides Capital LLC lifted its holdings in 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 purchasing an additional 5,297 shares in the last quarter. Finally, Whetstone Capital Advisors LLC bought a new position in DoubleDown Interactive in the 4th quarter worth about $173,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. is a South Korea-based developer and publisher of social casino games for mobile devices and the web. Its games are designed to simulate casino experiences, including slot machines and other casino-style entertainment, while using virtual currency rather than offering real-money gambling.

The company's principal title is DoubleDown Casino, a social casino game available through mobile applications and online platforms. DoubleDown Interactive also offers additional casino-themed games and content, including slot-focused experiences developed for players seeking casual, entertainment-oriented gameplay.

DoubleDown Interactive was established in 2010 and became part of South Korean gaming company DoubleU Games in 2017.

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