DoubleDown Interactive (NASDAQ:DDI) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

DoubleDown Interactive (NASDAQ:DDI) announced its quarterly earnings results on Monday. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04), Zacks reports. The company had revenue of $82.98 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $0.54 EPS.

DoubleDown Interactive Price Performance

Shares of DDI traded down $0.20 during midday trading on Wednesday, hitting $16.00. 124,686 shares of the company traded hands, compared to its average volume of 35,706. The stock has a 50-day moving average of $14.50 and a 200-day moving average of $13.13. The firm has a market cap of $792.80 million, a P/E ratio of 6.96 and a beta of 0.88. DoubleDown Interactive has a one year low of $7.16 and a one year high of $18.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.68 and a quick ratio of 18.68.

Analyst Ratings Changes

Several analysts have recently issued reports on DDI shares. Northland Securities lifted their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday. B. Riley upped their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Wedbush boosted their price target on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday.

DoubleDown Interactive Company Profile

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.