Piper Sandler Reiterates “Overweight” Rating for Digi International (NASDAQ:DGII)

Digi International (NASDAQ:DGII)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a research report issued on Friday, Benzinga reports. They presently have a $35.00 price objective on the technology company’s stock, down from their prior price objective of $40.00. Piper Sandler’s target price points to a potential upside of 36.03% from the stock’s previous close.

Separately, Stephens raised their price objective on shares of Digi International from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Digi International has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Digi International Price Performance

Digi International stock opened at $25.73 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.39. Digi International has a one year low of $21.25 and a one year high of $42.95. The firm has a market capitalization of $932.97 million, a P/E ratio of 67.71, a PEG ratio of 0.83 and a beta of 1.22. The business has a fifty day moving average price of $30.17 and a 200-day moving average price of $27.16.

Digi International (NASDAQ:DGII) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $106.09 million during the quarter, compared to the consensus estimate of $105.75 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. As a group, equities research analysts forecast that Digi International will post 1.8 EPS for the current year.

Institutional Trading of Digi International

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Digi International by 687.7% in the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after purchasing an additional 839 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Digi International in the 1st quarter worth $33,000. Quantbot Technologies LP raised its position in shares of Digi International by 76.8% during the 3rd quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock valued at $47,000 after buying an additional 761 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Digi International during the 1st quarter worth $78,000. Finally, Central Pacific Bank Trust Division purchased a new position in Digi International in the first quarter worth $139,000. Hedge funds and other 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.