Equities Analysts Issue Forecasts for DDI FY2024 Earnings

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) – Stock analysts at Northland Capmk reduced their FY2024 earnings per share (EPS) estimates for DoubleDown Interactive in a report issued on Monday, November 11th. Northland Capmk analyst G. Gibas now expects that the company will earn $2.37 per share for the year, down from their previous forecast of $2.40. The consensus estimate for DoubleDown Interactive’s current full-year earnings is $2.35 per share.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The firm had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a return on equity of 15.07% and a net margin of 33.28%. During the same quarter in the prior year, the firm earned $0.54 EPS.

Other analysts have also recently issued reports about the stock. B. Riley increased their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Wedbush increased their target price on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Northland Securities increased their price objective on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday.

DoubleDown Interactive Trading Down 1.2 %

NASDAQ DDI opened at $16.00 on Thursday. The company’s fifty day moving average price is $14.50 and its two-hundred day moving average price is $13.13. DoubleDown Interactive has a 12 month low of $7.16 and a 12 month high of $18.21. The company has a market capitalization of $792.80 million, a price-to-earnings ratio of 6.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.68 and a quick ratio of 18.68.

Hedge Funds Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent reporting 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.