Digi International Inc. (NASDAQ:DGII) Given Average Rating of “Buy” by Analysts

Digi International Inc. (NASDAQ:DGII – Get Rating) has earned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $47.00.

A number of analysts recently weighed in on DGII shares. StockNews.com upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research note on Wednesday. Stephens upped their target price on shares of Digi International from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 11th. Canaccord Genuity Group upped their target price on shares of Digi International from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, November 11th. Piper Sandler upped their target price on shares of Digi International to $50.00 in a research note on Wednesday, November 16th. Finally, Craig Hallum upped their target price on shares of Digi International to $48.00 in a research note on Wednesday, November 16th.

Digi International Stock Up 1.2 %

Shares of NASDAQ:DGII opened at $33.94 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 0.96. The firm has a market capitalization of $1.21 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29. The firm’s 50-day moving average is $38.54 and its two-hundred day moving average is $34.98. Digi International has a 1 year low of $18.54 and a 1 year high of $43.68.

Digi International (NASDAQ:DGII – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $105.74 million for the quarter, compared to analyst estimates of $100.60 million. Digi International had a net margin of 4.99% and a return on equity of 8.81%. Analysts predict that Digi International will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Digi International

Hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC boosted its holdings in shares of Digi International by 127.3% in the second quarter. Essex Investment Management Co. LLC now owns 406,347 shares of the technology company’s stock valued at $9,842,000 after acquiring an additional 227,598 shares during the period. Advisory Research Inc. acquired a new stake in shares of Digi International in the third quarter valued at approximately $3,321,000. Russell Investments Group Ltd. acquired a new stake in shares of Digi International in the third quarter valued at approximately $2,276,000. Moloney Securities Asset Management LLC acquired a new stake in shares of Digi International in the second quarter valued at approximately $800,000. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of Digi International by 156.2% in the third quarter. BNP Paribas Arbitrage SNC now owns 27,913 shares of the technology company’s stock valued at $965,000 after acquiring an additional 17,017 shares during the period. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

About Digi International

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Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.