DoubleDown Interactive (NASDAQ:DDI) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a buy rating to a hold rating in a report published on Saturday.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DoubleDown Interactive in a report on Wednesday, January 21st. Loop Capital set a $16.00 price objective on DoubleDown Interactive in a research note on Monday, November 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $21.00 price objective on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.75.

DoubleDown Interactive Price Performance

DDI stock opened at $8.75 on Friday. The business has a 50 day simple moving average of $8.77 and a 200-day simple moving average of $9.07. DoubleDown Interactive has a twelve month low of $8.09 and a twelve month high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). The business had revenue of $95.79 million during the quarter, compared to analysts’ expectations of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. On average, equities analysts anticipate that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after purchasing an additional 2,397 shares during the period. Four Tree Island Advisory LLC acquired a new position in DoubleDown Interactive during the fourth quarter worth $93,000. Goldman Sachs Group Inc. grew its holdings in DoubleDown Interactive by 127.4% during the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after acquiring an additional 16,128 shares during the period. Aristides Capital LLC raised its position in DoubleDown Interactive by 4.5% in the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after acquiring an additional 1,480 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in DoubleDown Interactive in the third quarter valued at $319,000.

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.