Analysts Set DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) PT at $18.60

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.60.

DDI has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and set a $21.00 price objective on shares of DoubleDown Interactive in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, January 21st. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Loop Capital set a $16.00 target price on shares of DoubleDown Interactive in a research note on Monday, November 3rd.

DoubleDown Interactive Trading Up 4.1%

DoubleDown Interactive stock opened at $8.81 on Friday. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25. The firm has a market capitalization of $419.22 million, a PE ratio of 3.83 and a beta of 0.85. The firm’s 50 day simple moving average is $8.88 and its 200 day simple moving average is $9.13.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The firm had revenue of $95.85 million during the quarter, compared to the consensus estimate of $94.28 million. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 12.92%. Research analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in DoubleDown Interactive by 127.4% in the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after acquiring an additional 16,128 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of DoubleDown Interactive by 124.7% in the 1st quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after purchasing an additional 33,459 shares in the last quarter. Boston Partners boosted its holdings in shares of DoubleDown Interactive by 53.7% in the 2nd quarter. Boston Partners now owns 75,528 shares of the company’s stock worth $723,000 after purchasing an additional 26,379 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of DoubleDown Interactive by 130.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after purchasing an additional 696,366 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of DoubleDown Interactive during the 2nd quarter valued at about $2,632,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.