Piper Sandler Has Lowered Expectations for Digi International (NASDAQ:DGII) Stock Price

Digi International (NASDAQ:DGII) had its target price dropped by equities researchers at Piper Sandler from $32.00 to $26.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective would suggest a potential downside of 1.78% from the stock’s previous close.

Several other equities analysts have also issued reports on DGII. Stephens reiterated an “overweight” rating and issued a $45.00 target price on shares of Digi International in a research note on Thursday, February 6th. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Digi International currently has an average rating of “Moderate Buy” and an average price target of $35.25.

Digi International Trading Up 14.4 %

DGII stock opened at $26.47 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a fifty day moving average price of $30.11 and a 200 day moving average price of $30.53. The firm has a market cap of $976.72 million, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Digi International has a fifty-two week low of $20.17 and a fifty-two week high of $37.07.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. Sell-side analysts anticipate that Digi International will post 1.68 earnings per share for the current fiscal year.

Institutional Trading of Digi International

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in Digi International by 868.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,025 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Digi International during the 4th quarter worth about $45,000. KLP Kapitalforvaltning AS acquired a new position in Digi International during the 4th quarter worth about $196,000. Bearing Point Capital LLC acquired a new stake in Digi International in the 4th quarter valued at about $212,000. Finally, Pacer Advisors Inc. raised its position in Digi International by 110.2% in the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after purchasing an additional 5,207 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Company Profile

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.