Digi International Inc. (NASDAQ:DGII) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Digi International Inc. (NASDAQ:DGII) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.20.

A number of analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Craig Hallum lowered their target price on shares of Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Digi International Stock Down 0.7 %

NASDAQ DGII opened at $32.00 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $28.69 and a two-hundred day moving average of $26.71. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 69.57, a PEG ratio of 0.98 and a beta of 1.06. Digi International has a 52 week low of $20.17 and a 52 week high of $32.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division bought a new position in Digi International during the 1st quarter worth about $139,000. SG Americas Securities LLC grew its holdings in Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after acquiring an additional 3,911 shares in the last quarter. Verity Asset Management Inc. bought a new position in Digi International during the 1st quarter worth about $269,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Digi International during the second quarter valued at about $498,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock valued at $956,000 after buying an additional 10,317 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.