Digi International price target raised to $41 from $36 at Piper Sandler

Piper Sandler raised the firm’s price target on Digi International (DGII) to $41 from $36 and keeps a Neutral rating on the shares. The firm notes shares were higher following one of the largest beats in over two years and an initial FY26 guide that came in 6% higher than Street was embedding. While this is encouraging to see, given the limited visibility of this model, even when including Jolt, Piper is a bit surprised the team would guide this high. On the positive side, Digi should see a benefit from AI infrastructure builds over the next year, networking refresh, and Jolt integration.