Brokerages Set DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Price Target at $18.75

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) have received an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.6667.

Several equities analysts have recently weighed in on DDI shares. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, Wedbush decreased their target price on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday.

Hedge Funds Weigh In On DoubleDown Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in DDI. Goldman Sachs Group Inc. lifted its position in shares of 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 in the last quarter. Acadian Asset Management LLC lifted its position in DoubleDown Interactive by 124.7% during the first quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after buying an additional 33,459 shares in the last quarter. Ameriprise Financial Inc. lifted its position in DoubleDown Interactive by 130.2% during the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock worth $11,782,000 after buying an additional 696,366 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in DoubleDown Interactive during the second quarter worth approximately $5,759,000. Finally, Osaic Holdings Inc. lifted its position in DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after buying an additional 2,397 shares in the last quarter.

DoubleDown Interactive Trading Up 2.2%

Shares of DDI stock opened at $12.00 on Monday. The company has a market capitalization of $594.60 million, a P/E ratio of 5.22 and a beta of 1.01. The business’s 50 day moving average is $9.39 and its two-hundred day moving average is $9.06. DoubleDown Interactive has a 12-month low of $8.09 and a 12-month high of $12.10.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $94.12 million for the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. On average, research analysts predict that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.

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.