Stephens Reiterates Overweight Rating for Digi International (NASDAQ:DGII)

Key Points

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Digi International (NASDAQ:DGII - Get Free Report)'s stock had its "overweight" rating restated by analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $50.00 price target on the technology company's stock. Stephens' price objective would suggest a potential upside of 44.45% from the company's previous close.

Other research analysts have also issued research reports about the company. Roth Capital restated a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. B. Riley increased their price objective on shares of Digi International from $35.00 to $40.00 and gave the stock a "buy" rating in a 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 note on Tuesday, May 20th. Finally, Piper Sandler boosted their price objective on Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Digi International presently has a consensus rating of "Moderate Buy" and an average price target of $38.75.

Digi International Stock Performance

Digi International stock opened at $34.62 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.03. Digi International has a 12 month low of $22.39 and a 12 month high of $37.06. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The stock's 50-day moving average is $33.66 and its 200-day moving average is $31.39.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $106.23 million. During the same quarter last year, the company earned $0.50 earnings per share. Digi International's revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that Digi International will post 1.68 earnings per share for the current year.

Hedge Funds Weigh In On Digi International

Several institutional investors have recently modified their holdings of DGII. Sterling Capital Management LLC raised its stake in Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock worth $35,000 after purchasing an additional 1,025 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Digi International during the 4th quarter valued at $45,000. GAMMA Investing LLC increased its position in shares of Digi International by 67.8% in the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock worth $59,000 after purchasing an additional 685 shares during the period. Farther Finance Advisors LLC raised its stake in Digi International by 5,263.2% in the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company's stock valued at $71,000 after purchasing an additional 2,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Digi International during the second quarter worth about $196,000. Institutional investors own 95.90% of the company's stock.

About Digi International

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.

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