Digi International Inc. (NASDAQ:DGII) Stock Has Consensus Target Price of $82.40 According to Brokerages

Digi International Inc. (NASDAQ:DGII) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $82.40.

A number of brokerages have recently issued reports on DGII. Zacks Research cut shares of Digi International from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings raised Digi International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Stephens lifted their price objective on Digi International from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Roth Capital set a $90.00 price target on Digi International and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Piper Sandler upped their price target on Digi International from $63.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, August 6th.

Digi International Stock Up 1.4%

DGII opened at $63.21 on Friday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 34.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.13. Digi International has a fifty-two week low of $34.41 and a fifty-two week high of $86.84. The firm’s fifty day moving average is $72.98 and its 200 day moving average is $63.54.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $138.67 million during the quarter, compared to analysts’ expectations of $132.57 million. Digi International had a return on equity of 12.16% and a net margin of 9.63%. The company’s revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. On average, sell-side analysts forecast that Digi International will post 2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digi International

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in shares of Digi International in the second quarter valued at approximately $92,680,000. The Manufacturers Life Insurance Company acquired a new position in shares of Digi International during the second quarter worth approximately $1,391,000. Lisanti Capital Growth LLC acquired a new stake in Digi International in the second quarter valued at $1,614,000. Globeflex Capital L P bought a new stake in Digi International during the 2nd quarter worth $3,250,000. Finally, Horizon Investment Services LLC bought a new stake in Digi International during the second quarter worth $945,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

Digi International Inc (NASDAQ: DGII) provides Internet of Things (IoT) connectivity products and services that help businesses connect, monitor and manage devices and equipment remotely. Its solutions are used to support connected operations across industrial, transportation, energy, healthcare, retail and other commercial applications.

The company offers cellular routers, gateways, embedded systems, networking hardware and wireless modules. Digi also provides cloud-based device-management software and related services that enable customers to configure, monitor, secure and update connected devices throughout their operating lifecycles.

Digi serves customers internationally through direct sales, channel partners and distributors.