Shares of DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) have received a consensus rating of “Moderate Buy” from six brokerages currently covering the company, according to MarketBeat. This analysis comes as two investment analysts issued hold recommendations, three recommended buying, and one provided a strong buy rating. The average price target for the stock over the next twelve months is set at $19.25.
Several brokerage firms have recently published reports on DoubleDown Interactive. On September 29, Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating. Meanwhile, Weiss Ratings reaffirmed a “hold (c-)” rating in a report released on Friday. In contrast, Wedbush upgraded the stock to a “strong-buy” rating on July 1.
As of Thursday, DoubleDown Interactive’s stock opened at $8.83, reflecting a decrease of 2.6% from previous sessions. The stock’s fifty-day simple moving average stands at $9.26, while the 200-day simple moving average is at $9.60. The company has recorded a 52-week low of $8.09 and a 52-week high of $18.21. With a market capitalization of $437.53 million, the stock has a price-to-earnings ratio of 4.11 and a beta of 0.85.
In terms of financial performance, DoubleDown Interactive reported its quarterly earnings on August 12, 2023. The company posted earnings per share (EPS) of $0.44, which fell short of the consensus estimate of $0.51 by $0.07. The company achieved a return on equity of 12.44% and a net margin of 31.91%. Revenue for the quarter reached $84.81 million, slightly exceeding expectations of $83.13 million.
Analysts Forecast Future Performance
Analysts anticipate that DoubleDown Interactive will post an EPS of 2.28 for the current fiscal year. The company specializes in developing and publishing casual games and mobile applications, primarily operating within South Korea. It is known for a range of digital gaming content available on mobile and web platforms, including DoubleDown Casino, DoubleDown Classic, and DoubleDown Fort Knox, along with in-game virtual chips.
With ongoing interest from hedge funds and other investors, DoubleDown Interactive remains a notable player in the gaming sector. As the company continues to adapt and expand its portfolio, the fluctuations in its stock will be closely monitored by analysts and investors alike.
