In a report released today, Michael Walkley from Canaccord Genuity maintained a Buy rating on Digi International (DGII), with a price target of $24.00. The company’s shares closed last Thursday at $12.76.
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 22.1% and a 68.5% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Digi International with a $24.00 average price target.
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Based on Digi International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $73.45 million and net profit of $2 million. In comparison, last year the company earned revenue of $65.76 million and had a net profit of $1.34 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 May 2020, David Sampsell, the VP, Corp. Dev, GC & Corp. Sec. of DGII sold 25,000 shares for a total of $289,920.
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.
