Canaccord Genuity Believes Digi International (DGII) Still Has Room to Grow


Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Digi International (DGII) yesterday and set a price target of $28.00. The company’s shares closed last Wednesday at $19.91, close to its 52-week high of $20.39.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 29.2% and a 71.5% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.

Currently, the analyst consensus on Digi International is a Moderate Buy with an average price target of $23.00.

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The company has a one-year high of $20.39 and a one-year low of $6.18. Currently, Digi International has an average volume of 192.3K.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DGII in relation to earlier this year. Most recently, in November 2020, Kevin C. Riley, the President of DGII sold 79,598 shares for a total of $1,358,479.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Digi International, Inc. provides business and mission-critical Internet of Things (IoT) connectivity products, services and solutions. It operates through the following segments: IoT Products & Services and IoT Solutions. The IoT Products & Services segment offers products and services that help original equipment manufacturers, enterprise and government customers create and deploy, secure IoT connectivity solutions. The IoT Solutions segment offers wireless temperature and other condition-based monitoring services as well as employee task management services. The company was founded in 1985 and is headquartered in Hopkins, MN.

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