Digi International (DGII) Gets a Buy Rating from Canaccord Genuity

By Carrie Williams

In a report released yesterday, Michael Walkley from Canaccord Genuity maintained a Buy rating on Digi International (DGIIResearch Report), with a price target of $26.00. The company’s shares closed last Monday at $16.73.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 19.9% and a 67.0% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Sequans Communications S A, and Skyworks Solutions.

Currently, the analyst consensus on Digi International is a Strong Buy with an average price target of $21.20.

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Based on Digi International’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.29 million. In comparison, last year the company had a net profit of $4.68 million.

Based on the recent corporate insider activity of 44 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 December 2019, Tracy Roberts, the VP, Technology Services of DGII sold 10,000 shares for a total of $175,500.

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.