Digi International Inc. (NASDAQ:DGII) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Digi International Inc. (NASDAQ:DGII) have been given an average recommendation of “Moderate Buy” by the five research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.75.

Several equities research analysts have recently weighed in on DGII shares. Piper Sandler increased their price objective on Digi International from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. B. Riley upped their target price on Digi International from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Roth Capital restated a “buy” rating on shares of Digi International in a research note on Thursday, August 7th. Finally, Stephens restated an “overweight” rating and issued a $50.00 target price on shares of Digi International in a research note on Tuesday, August 19th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Digi International by 2,467.2% in the first quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock valued at $783,000 after purchasing an additional 27,040 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Digi International by 9,344.7% in the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after purchasing an additional 107,464 shares in the last quarter. Herald Investment Management Ltd bought a new stake in Digi International in the first quarter valued at $2,226,000. Pacer Advisors Inc. grew its position in Digi International by 2,297.0% in the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock valued at $6,624,000 after acquiring an additional 228,089 shares during the period. Finally, Rhumbline Advisers grew its position in Digi International by 3.6% in the second quarter. Rhumbline Advisers now owns 107,050 shares of the technology company’s stock valued at $3,732,000 after acquiring an additional 3,722 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Digi International Stock Down 0.3%

DGII opened at $36.94 on Friday. Digi International has a 1-year low of $22.39 and a 1-year high of $38.64. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.27 and a beta of 0.87. The business has a 50 day moving average of $34.21 and a 200-day moving average of $31.96.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The company had revenue of $107.51 million during the quarter, compared to analysts’ expectations of $106.23 million. During the same period in the prior year, the business earned $0.50 earnings per share. Digi International’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Digi International will post 1.68 earnings per share for the current year.

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.