Digi International (NASDAQ:DGII) Receives Overweight Rating from Piper Sandler

Digi International (NASDAQ:DGII)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They presently have a $35.00 price objective on the technology company’s stock, down from their previous price objective of $40.00. Piper Sandler’s target price suggests a potential upside of 35.87% from the company’s current price.

Separately, Stephens upped their target price on Digi International from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

Digi International Stock Performance

NASDAQ DGII traded up $0.26 during trading on Friday, hitting $25.76. The company’s stock had a trading volume of 145,758 shares, compared to its average volume of 179,907. Digi International has a 52 week low of $21.25 and a 52 week high of $42.95. The company has a quick ratio of 1.39, a current ratio of 2.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $934.06 million, a P/E ratio of 66.63, a price-to-earnings-growth ratio of 1.00 and a beta of 1.22. The firm has a 50 day moving average price of $30.25 and a 200 day moving average price of $27.14.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Digi International had a net margin of 3.20% and a return on equity of 11.67%. The firm had revenue of $106.09 million for the quarter, compared to analysts’ expectations of $105.75 million. Equities research analysts forecast that Digi International will post 1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digi International

A number of hedge funds and other institutional investors have recently modified their holdings of DGII. GAMMA Investing LLC boosted its holdings in shares of Digi International by 687.7% in 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 last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Digi International during the 1st quarter worth $33,000. Quantbot Technologies LP increased its stake in Digi International by 76.8% during the 3rd quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock worth $47,000 after buying an additional 761 shares during the period. NBC Securities Inc. purchased a new stake in shares of Digi International in the 1st quarter valued at approximately $78,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Digi International during the first quarter worth about $139,000. 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.