Q3 2023 EPS Estimates for DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Boosted by Wedbush

Posted by Defense World Staff on Aug 10th, 2023

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Free Report) – Research analysts at Wedbush increased their Q3 2023 earnings per share (EPS) estimates for shares of DoubleDown Interactive in a research note issued to investors on Wednesday, August 9th. Wedbush analyst N. Mckay now expects that the company will post earnings per share of $0.48 for the quarter, up from their prior forecast of $0.46. Wedbush has a “Outperform” rating and a $12.25 price target on the stock. The consensus estimate for DoubleDown Interactive’s current full-year earnings is $1.69 per share. Wedbush also issued estimates for DoubleDown Interactive’s Q4 2023 earnings at $0.50 EPS, FY2023 earnings at $1.95 EPS, Q1 2024 earnings at $0.50 EPS, Q2 2024 earnings at $0.50 EPS, Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.05 EPS, Q2 2025 earnings at $0.51 EPS and FY2025 earnings at $2.14 EPS.

DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last announced its quarterly earnings data on Wednesday, May 10th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The firm had revenue of $77.60 million for the quarter, compared to analyst estimates of $75.17 million. DoubleDown Interactive had a positive return on equity of 3.84% and a negative net margin of 73.07%.

DoubleDown Interactive Stock Down 8.5 %

Shares of DDI opened at $8.01 on Thursday. DoubleDown Interactive has a 52 week low of $7.24 and a 52 week high of $11.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.97 and a current ratio of 2.97. The firm has a market capitalization of $396.92 million, a price-to-earnings ratio of -1.74 and a beta of 0.57. The business’s fifty day moving average price is $9.10 and its two-hundred day moving average price is $8.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in shares of DoubleDown Interactive in the 2nd quarter valued at about $149,000. Raymond James Financial Services Advisors Inc. bought a new position in DoubleDown Interactive during the second quarter worth about $184,000. Finally, B. Riley Financial Inc. grew its holdings in DoubleDown Interactive by 4.2% during the second quarter. B. Riley Financial Inc. now owns 4,024,520 shares of the company’s stock worth $38,515,000 after purchasing an additional 162,242 shares during the period. 9.26% of the stock is currently owned by institutional investors.

About DoubleDown Interactive

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DoubleDown Interactive Co, Ltd. engages in the development and publishing of and web-based casual games and mobile applications in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and Undead World: Hero Survival games. Its games are primarily distributed, marketed, and promoted through third party platform providers.