Roth Capital analyst Eric Handler initiated coverage of DoubleDown (DDI) with a Buy rating and $16 price target The firm views DoubleDown as an “attractive special situation with the potential in the next few quarters for a significant value unlock.” The company has $8.50 per share of net cash on the balance sheet and should exceed $10 per share by year-end, the analyst tells investors in a research note. Roth says the stock’s valuation is “anemic” and that cash deployment through acquisitions or capital returns, along with improved share liquidity, should drive multiple expansion.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DDI:
- DoubleDown Interactive Donates $10,000 to ASPCA During Kitten Season
- DoubleDown Interactive Announces Secondary Offering Pricing
- DoubleDown announces pricing of 4.3M ADSs at $8.50 in secondary offering
- Doubledown Interactive’s Mixed Earnings Call: Growth and Challenges
- DoubleDown price target lowered to $22 from $23 at B. Riley