Digi International's (DGII) "Overweight" Rating Reaffirmed at Stephens

Key Points

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Stephens restated their overweight rating on shares of Digi International (NASDAQ:DGII - Free Report) in a research note published on Tuesday,Benzinga reports. They currently have a $50.00 target price on the technology company's stock.

Several other equities analysts have also commented on the stock. Roth Capital reaffirmed a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. Piper Sandler upped their price target on shares of Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Finally, B. Riley upped their price target on shares of Digi International from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.75.

Digi International Price Performance

DGII traded up $1.54 during midday trading on Tuesday, reaching $34.46. 316,602 shares of the company's stock were exchanged, compared to its average volume of 195,070. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.03. The stock has a market capitalization of $1.28 billion, a PE ratio of 30.23, a P/E/G ratio of 1.19 and a beta of 0.89. The business's 50-day moving average price is $33.65 and its 200 day moving average price is $31.49. Digi International has a 1-year low of $22.39 and a 1-year high of $37.06.

Digi International (NASDAQ:DGII - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The company had revenue of $107.51 million during the quarter, compared to analysts' expectations of $106.23 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Digi International will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Several institutional investors have recently bought and sold shares of the business. Geneva Capital Management LLC grew its stake in Digi International by 5.9% during the second quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company's stock worth $60,322,000 after buying an additional 95,756 shares during the period. Ameriprise Financial Inc. grew its stake in Digi International by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company's stock worth $22,736,000 after buying an additional 46,659 shares during the period. Pacer Advisors Inc. grew its stake in Digi International by 2,297.0% during the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock worth $6,624,000 after buying an additional 228,089 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Digi International during the second quarter worth approximately $4,293,000. Finally, Jones Financial Companies Lllp grew its stake in Digi International by 9,344.7% during the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company's stock worth $3,023,000 after buying an additional 107,464 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.