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 data from MarketBeat. The analysis indicates two firms recommend holding the stock, three suggest buying it, while one analyst has issued a strong buy recommendation. The average twelve-month price target for DoubleDown Interactive is set at $19.25.
Several analysts have been actively evaluating the stock recently. On September 29, Zacks Research adjusted its rating, downgrading the shares from “strong buy” to “hold.” Earlier, on July 1, Wedbush upgraded the stock to a “strong buy” in its report. Meanwhile, Weiss Ratings maintained a “hold (c-)” rating in a research update released on Friday.
Current Stock Performance
As of Thursday, DDI shares opened at $8.83, marking a decline of 2.6%. Over the last fifty days, the stock has shown a simple moving average of $9.26, while the 200-day simple moving average stands at $9.60. The stock has reached a 52-week low of $8.09 and a high of $18.21. Currently, DoubleDown Interactive holds a market capitalization of approximately $437.53 million, a price-to-earnings ratio of 4.11, and a beta of 0.85.
The company recently reported its quarterly earnings on August 12, 2023. It posted earnings per share (EPS) of $0.44, which fell short of the consensus estimate of $0.51 by $0.07. Despite this, DoubleDown Interactive achieved a revenue of $84.81 million for the quarter, surpassing the anticipated $83.13 million. Analysts predict that the company will have an EPS of 2.28 for the current fiscal year.
Company Overview
DoubleDown Interactive Co., Ltd. is engaged in developing and publishing casual games and mobile applications, primarily in South Korea. The company offers a range of digital gaming content on mobile and web platforms, including popular titles like DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and various cash-out games, along with in-game virtual chips.
Investors and stakeholders will be keen to monitor further developments regarding DoubleDown Interactive as analysts continue to assess the firm’s performance and market position.
