In a report released yesterday, Michael Walkley from Canaccord Genuity maintained a Buy rating on Digi International (DGII), with a price target of $27.00. The company’s shares closed last Thursday at $17.50, close to its 52-week high of $18.99.
According to TipRanks.com, Walkley is a 5-star analyst with an average return of 19.3% and a 65.3% 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 $27.00.
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Based on Digi International’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $70.34 million and net profit of $1.77 million. In comparison, last year the company earned revenue of $61.17 million and had a net profit of $1.65 million.
Based on the recent corporate insider activity of 53 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 August 2020, Tracy Roberts, the VP, Technology Services of DGII sold 5,855 shares for a total of $80,669.
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.
