Brokers Set Expectations for DoubleDown Interactive Co., Ltd.’s Q3 2024 Earnings (NASDAQ:DDI)

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) – Research analysts at B. Riley raised their Q3 2024 EPS estimates for shares of DoubleDown Interactive in a note issued to investors on Tuesday, August 13th. B. Riley analyst D. Bain now anticipates that the company will post earnings per share of $0.53 for the quarter, up from their prior forecast of $0.46. B. Riley currently has a “Buy” rating and a $26.00 price objective on the stock. The consensus estimate for DoubleDown Interactive’s current full-year earnings is $2.07 per share. B. Riley also issued estimates for DoubleDown Interactive’s Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.56 EPS, FY2025 earnings at $2.20 EPS, Q1 2026 earnings at $0.57 EPS, Q2 2026 earnings at $0.56 EPS and FY2026 earnings at $2.26 EPS.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Monday, August 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a return on equity of 15.00% and a net margin of 33.51%. The firm had revenue of $88.24 million for the quarter, compared to the consensus estimate of $83.87 million. During the same quarter in the previous year, the company posted $0.49 earnings per share.

A number of other research firms have also recently issued reports on DDI. Northland Securities lifted their target price on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday. Macquarie initiated coverage on shares of DoubleDown Interactive in a research note on Monday, May 20th. They issued an “outperform” rating for the company. Finally, Wedbush increased their target price on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the stock an “outperform” rating in a research report on Tuesday.

DoubleDown Interactive Price Performance

Shares of DoubleDown Interactive stock opened at $12.54 on Wednesday. The stock has a 50-day simple moving average of $12.18 and a 200-day simple moving average of $11.77. DoubleDown Interactive has a 52-week low of $6.95 and a 52-week high of $15.96. The firm has a market cap of $621.39 million, a price-to-earnings ratio of 5.66 and a beta of 0.80.

Institutional Trading of DoubleDown Interactive

Several large investors have recently modified their holdings of DDI. B. Riley Financial Inc. lifted its position in DoubleDown Interactive by 2.4% during the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after acquiring an additional 96,740 shares during the last quarter. Arbor Capital Management Inc. ADV acquired a new position in shares of DoubleDown Interactive during the 4th quarter worth about $514,000. Renaissance Technologies LLC boosted its stake in DoubleDown Interactive by 81.6% during the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after purchasing an additional 18,200 shares during the period. Finally, First Trust Direct Indexing L.P. acquired a new stake in DoubleDown Interactive in the 4th quarter valued at approximately $82,000.

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.