Analysts Set Digi International Inc. (NASDAQ:DGII) PT at $36.50

Shares of Digi International Inc. (NASDAQ:DGII) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $36.50.

DGII has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Piper Sandler downgraded Digi International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $29.00 in a report on Wednesday, May 22nd. Finally, Roth Mkm lowered their target price on Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 3rd.

Digi International Price Performance

Shares of DGII stock opened at $22.91 on Friday. Digi International has a twelve month low of $21.25 and a twelve month high of $42.95. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $25.31 and a 200 day simple moving average of $27.17. The company has a market cap of $833.47 million, a P/E ratio of 60.29, a P/E/G ratio of 0.79 and a beta of 1.07.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $107.70 million during the quarter, compared to analysts’ expectations of $106.97 million. Digi International had a net margin of 3.20% and a return on equity of 11.61%. On average, sell-side analysts forecast that Digi International will post 1.7 EPS for the current fiscal year.

Institutional Trading of Digi International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geneva Capital Management LLC raised its holdings in Digi International by 20.9% during the 1st quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock worth $53,887,000 after purchasing an additional 291,618 shares during the last quarter. Summit Creek Advisors LLC increased its position in shares of Digi International by 13.9% during the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after buying an additional 41,392 shares during the period. Rhumbline Advisers increased its position in shares of Digi International by 0.5% during the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock worth $2,775,000 after buying an additional 502 shares during the period. Russell Investments Group Ltd. lifted its holdings in Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after buying an additional 54,746 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Digi International by 52.6% in 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 period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.