DoubleDown Interactive (NASDAQ:DDI) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

DoubleDown Interactive (NASDAQ:DDI) posted its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.23), Zacks reports. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.

DoubleDown Interactive Stock Performance

Shares of DDI traded up $0.02 during mid-day trading on Wednesday, hitting $15.72. The company’s stock had a trading volume of 296,999 shares, compared to its average volume of 123,945. The stock’s 50-day moving average is $13.36 and its two-hundred day moving average is $11.19. The firm has a market capitalization of $778.93 million, a PE ratio of 6.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. DoubleDown Interactive has a one year low of $8.10 and a one year high of $15.78.

Key Headlines Impacting DoubleDown Interactive

Investors following DDI have been watching these headlines:

• Positive Sentiment: Majority owner DoubleU Games launched an all-cash tender offer for DDI’s remaining ADSs at $16.25 per ADS. DoubleDown’s independent special committee and board endorsed the deal and recommended that unaffiliated shareholders tender, providing a defined potential exit price above recent trading levels. The offer remains subject to its terms and completion. Tender offer announcement
• Neutral Sentiment: A law firm announced an investigation involving DoubleDown but provided no specific allegations in the notice. The announcement may create some uncertainty, though its effect is unclear. Shareholder investigation notice
• Negative Sentiment: B. Riley downgraded DDI from “Buy” to “Neutral,” removing a bullish analyst endorsement. B. Riley downgrade

Analyst Upgrades and Downgrades

DDI has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Wednesday, November 4th. B. Riley Financial downgraded DoubleDown Interactive from a “buy” rating to a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.50.

About DoubleDown Interactive

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company’s portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.