Zacks Investment Research upgraded shares of Digi International Inc. (NASDAQ:DGII) from a hold rating to a buy rating in a report released on Tuesday, August 1st. Zacks Investment Research currently has $12.00 price objective on the technology company’s stock.
According to Zacks, “Digi International Inc. is a worldwide provider of communications hardware and software delivering seamless connectivity solutions for peripheral server-based remote access and local area networking markets. The Company operates exclusively in a single business segment and sells its products through a global network of distributors, systems integrators, value-added resellers and original equipment manufacturers. They also sell direct to select accounts and the government. “
Other equities research analysts have also issued research reports about the company. Sidoti raised Digi International from a neutral rating to a buy rating in a report on Tuesday, May 23rd. Benchmark Co. started coverage on Digi International in a report on Tuesday, April 25th. They issued a buy rating and a $16.00 price objective for the company. Canaccord Genuity reissued a buy rating and issued a $15.00 price objective on shares of Digi International in a report on Friday, July 28th. TheStreet lowered Digi International from a b- rating to a c+ rating in a report on Tuesday, May 30th. Finally, BidaskClub lowered Digi International from a sell rating to a strong sell rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $14.50.
Digi International (NASDAQ:DGII) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $45.67 million. Digi International had a return on equity of 3.17% and a net margin of 4.74%. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts expect that Digi International will post $0.27 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of DGII. State Street Corp increased its stake in shares of Digi International by 5.1% in the second quarter. State Street Corp now owns 729,474 shares of the technology company’s stock worth $7,399,000 after buying an additional 35,133 shares during the period. Ameriprise Financial Inc. increased its stake in Digi International by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock worth $6,086,000 after buying an additional 65,430 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Digi International by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 478,009 shares of the technology company’s stock worth $5,689,000 after buying an additional 3,433 shares during the last quarter. Geode Capital Management LLC increased its stake in Digi International by 2.9% in the first quarter. Geode Capital Management LLC now owns 212,705 shares of the technology company’s stock worth $2,531,000 after buying an additional 6,068 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in Digi International by 13.2% in the first quarter. Gabelli Funds LLC now owns 171,342 shares of the technology company’s stock worth $2,039,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about Digi International Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Digi International Inc. and related companies.