DoubleDown Interactive (NASDAQ:DDI) Stock Rating Upgraded by Wall Street Zen

DoubleDown Interactive (NASDAQ:DDI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings cut shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.75.

DoubleDown Interactive Stock Performance

Shares of NASDAQ:DDI opened at $8.88 on Friday. The stock has a market capitalization of $440.00 million, a P/E ratio of 4.29 and a beta of 0.84. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25. The business has a 50-day moving average price of $8.75 and a two-hundred day moving average price of $8.90.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Thursday, February 12th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. The business had revenue of $95.79 million during the quarter, compared to the consensus estimate of $99.61 million. As a group, equities analysts predict that DoubleDown Interactive will post 2.28 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new stake in shares of DoubleDown Interactive in the 2nd quarter valued at about $5,759,000. 683 Capital Management LLC bought a new position in DoubleDown Interactive during the 2nd quarter worth approximately $2,632,000. Millennium Management LLC grew its holdings in DoubleDown Interactive by 100.2% during the third quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock valued at $1,090,000 after purchasing an additional 58,395 shares during the period. Aristides Capital LLC grew its holdings in DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after purchasing an additional 1,480 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $180,000.

About DoubleDown Interactive

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.