Digi International (NASDAQ:DGII) Price Target Raised to $32.00 at Piper Sandler

Digi International (NASDAQ:DGII) had its price target increased by equities researchers at Piper Sandler from $26.00 to $32.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target points to a potential upside of 1.88% from the company’s current price.

Separately, Craig Hallum reiterated a “hold” rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Digi International Price Performance

Shares of DGII stock opened at $31.41 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. The stock has a 50 day moving average price of $29.05 and a 200 day moving average price of $26.78. Digi International has a 52-week low of $20.17 and a 52-week high of $34.08. The firm has a market capitalization of $1.14 billion, a P/E ratio of 51.49, a P/E/G ratio of 1.07 and a beta of 1.06.

Institutional Investors Weigh In On Digi International

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in 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 period. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 54,746 shares during the last quarter. Summit Creek Advisors LLC grew its stake in Digi International by 13.9% in the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock valued at $10,819,000 after purchasing an additional 41,392 shares during the last quarter. Verity Asset Management Inc. bought a new position in Digi International in the first quarter worth about $269,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of 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 in the last quarter. Institutional investors 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.