Digi International Inc. (NASDAQ:DGII) Receives $34.20 Average PT from Analysts

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

Several research firms have recently issued reports on DGII. Craig Hallum cut their price target on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Piper Sandler cut their price target on Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Digi International Price Performance

Shares of NASDAQ DGII opened at $29.05 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 63.15, a PEG ratio of 0.97 and a beta of 1.06. Digi International has a one year low of $20.17 and a one year high of $32.90. The company’s fifty day moving average is $28.56 and its two-hundred day moving average is $26.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geneva Capital Management LLC raised its stake in Digi International by 20.9% in the 1st quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after purchasing an additional 291,618 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after purchasing an additional 54,746 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Digi International by 216.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock valued at $2,091,000 after buying an additional 62,402 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Digi International in the 2nd quarter valued at about $498,000. Finally, SG Americas Securities LLC grew its holdings in Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after buying an additional 8,788 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Digi International

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.