DoubleDown Interactive (NASDAQ:DDI) Lowered to Hold Rating by Wall Street Zen

DoubleDown Interactive (NASDAQ:DDI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts also recently issued reports on DDI. Loop Capital set a $16.00 price target on DoubleDown Interactive in a research note on Monday, November 3rd. Wedbush reissued an “outperform” rating and set a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.75.

DoubleDown Interactive Price Performance

Shares of DDI opened at $8.75 on Friday. The firm has a 50-day moving average of $8.77 and a 200-day moving average of $9.07. DoubleDown Interactive has a one year low of $8.09 and a one year high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%.The business had revenue of $95.79 million for the quarter, compared to analyst estimates of $99.61 million. As a group, analysts expect that DoubleDown Interactive will post 2.28 EPS for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of institutional investors have recently modified their holdings of DDI. Aristides Capital LLC boosted its position in DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after acquiring an additional 1,480 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of DoubleDown Interactive by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after buying an additional 1,789 shares during the last quarter. Osaic Holdings Inc. boosted its stake in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in DoubleDown Interactive during the fourth quarter worth $93,000. Finally, GSA Capital Partners LLP grew its stake in shares of DoubleDown Interactive by 54.5% in the 3rd quarter. GSA Capital Partners LLP now owns 52,733 shares of the company’s stock worth $493,000 after acquiring an additional 18,602 shares in the last quarter.

DoubleDown Interactive Company Profile

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.