Digi International Inc. (NASDAQ:DGII) Receives $34.20 Consensus Target Price from Brokerages

Shares of Digi International Inc. (NASDAQ:DGII) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $34.20.

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Piper Sandler dropped their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Craig Hallum dropped their price target on shares of Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Digi International Stock Performance

Shares of DGII stock opened at $26.51 on Thursday. Digi International has a 12 month low of $20.17 and a 12 month high of $32.90. The stock has a market cap of $964.30 million, a PE ratio of 69.76, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The company has a current ratio of 2.00, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $26.66 and its 200-day moving average price is $27.02.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $105.60 million. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities analysts expect that Digi International will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently bought and sold shares of DGII. GAMMA Investing LLC grew its position in shares of Digi International by 687.7% during the 1st quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after acquiring an additional 839 shares during the period. YHB Investment Advisors Inc. bought a new stake in Digi International during the first quarter valued at about $33,000. NBC Securities Inc. purchased a new stake in Digi International in the first quarter worth about $78,000. SG Americas Securities LLC raised its stake in shares of Digi International by 92.5% in the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after buying an additional 3,911 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Digi International during the 1st quarter valued at about $139,000. Institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.