Brokerages Set Digi International Inc. (NASDAQ:DGII) Price Target at $38.75

Digi International Inc. (NASDAQ:DGII) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.75.

Several equities analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Digi International in a research note on Tuesday, August 19th. Roth Capital reaffirmed a “buy” rating on shares of Digi International in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Digi International in a research note on Wednesday, October 8th. B. Riley lifted their price objective on Digi International from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Piper Sandler lifted their price objective on Digi International from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th.

Digi International Stock Up 1.5%

Shares of NASDAQ:DGII opened at $39.15 on Tuesday. The stock’s 50-day moving average price is $35.92 and its two-hundred day moving average price is $33.19. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. Digi International has a 12-month low of $22.39 and a 12-month high of $39.61. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 1.24 and a beta of 0.95.

Digi International (NASDAQ:DGII) last issued its quarterly 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. The firm had revenue of $107.51 million for the quarter, compared to analyst estimates of $106.23 million. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. On average, research analysts forecast that Digi International will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently bought and sold shares of DGII. Pacer Advisors Inc. lifted its position in Digi International by 2,297.0% during the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock worth $6,624,000 after acquiring an additional 228,089 shares in the last quarter. Herald Investment Management Ltd acquired a new position in Digi International during the 1st quarter worth approximately $2,226,000. Jones Financial Companies Lllp lifted its position in Digi International by 9,344.7% during the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock worth $3,023,000 after acquiring an additional 107,464 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Digi International by 5,263.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock worth $71,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Digi International by 67.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock worth $59,000 after acquiring an additional 685 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.