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

DoubleDown Interactive (NASDAQ:DDI) posted its quarterly earnings results on Tuesday. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.64 million.

DoubleDown Interactive Stock Performance

DoubleDown Interactive stock traded down $0.04 during trading hours on Thursday, hitting $15.68. The company had a trading volume of 99,068 shares, compared to its average volume of 123,752. The firm has a 50-day moving average of $13.42 and a 200 day moving average of $11.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The firm has a market cap of $776.99 million, a PE ratio of 6.22 and a beta of 1.11. DoubleDown Interactive has a one year low of $8.10 and a one year high of $15.78.

Analyst Upgrades and Downgrades

DDI has been the subject of a number of research reports. B. Riley Financial cut DoubleDown Interactive from a “buy” rating to a “neutral” rating in a research note on Monday. Roth Capital lowered shares of DoubleDown Interactive from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $16.25 in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Wednesday, November 4th. Finally, Canadian Imperial Bank of Commerce set a $16.25 target price on shares of DoubleDown Interactive in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.88.

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.