DoubleDown Interactive (NASDAQ:DDI) Price Target Raised to $14.75 at Wedbush

DoubleDown Interactive (NASDAQ:DDI) had its price target lifted by Wedbush from $13.50 to $14.75 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 34.58% from the company’s previous close.

DoubleDown Interactive Stock Up 3.1 %

NASDAQ:DDI opened at $10.96 on Thursday. DoubleDown Interactive has a 1 year low of $6.95 and a 1 year high of $15.96. The stock has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $9.91.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $83.10 million during the quarter, compared to the consensus estimate of $76.42 million. DoubleDown Interactive had a return on equity of 14.62% and a net margin of 32.51%. On average, equities analysts expect that DoubleDown Interactive will post 2.04 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in DDI. First Trust Direct Indexing L.P. acquired a new stake in shares of DoubleDown Interactive in the 4th quarter valued at about $82,000. Arbor Capital Management Inc. ADV acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $514,000. Finally, B. Riley Financial Inc. boosted its holdings in shares of DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after acquiring an additional 96,740 shares during the period.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.