DoubleDown Interactive (NASDAQ:DDI) Sets New 1-Year High - Should You Buy?

Key Points

• DoubleDown Interactive hit a new 52-week high, trading as high as $15.53 after closing at $13.58 in the prior session.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $19.50; B. Riley raised its target to $24 and maintained a Buy rating.
• Quarterly results beat expectations: earnings were $0.66 per share versus a $0.61 estimate, and revenue was $94.29 million versus a $92.90 million estimate.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $15.53 and last traded at $15.7360, with a volume of 296,756 shares traded. The stock had previously closed at $13.58.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DDI. Weiss Ratings reissued a "hold (c)" rating on shares of DoubleDown Interactive in a research note on Wednesday. B. Riley Financial lifted their price target on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.50.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The company has a 50 day simple moving average of $13.24 and a 200-day simple moving average of $11.12. The firm has a market cap of $777.14 million, a PE ratio of 6.22 and a beta of 1.11.

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

Institutional Trading of DoubleDown Interactive

Hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. purchased a new stake in DoubleDown Interactive during the third quarter valued at about $282,000. R Squared Ltd bought a new position in shares of DoubleDown Interactive during the third quarter valued at about $145,000. GAMMA Investing LLC increased its holdings in shares of DoubleDown Interactive by 11.3% in the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company's stock worth $200,000 after buying an additional 1,532 shares during the period. Renaissance Technologies LLC increased its holdings in shares of DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock worth $619,000 after buying an additional 19,256 shares during the period. Finally, Aristides Capital LLC increased its holdings in shares of DoubleDown Interactive by 15.5% in the first quarter. Aristides Capital LLC now owns 39,491 shares of the company's stock worth $334,000 after buying an additional 5,297 shares during the period.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. NASDAQ: DDI is a South Korean developer and publisher of social casino games. The company creates digital casino-style entertainment products that allow users to play games such as slots and poker using virtual currency rather than real-money wagers.

Its flagship product is DoubleDown Casino, a free-to-play social casino platform available through mobile devices and online channels, including social networking platforms. The company also offers related titles and casino-themed games, including DoubleDown Fortunes and other slot-focused products.

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