Northland raised the firm’s price target on DoubleDown (DDI) to $21 from $18 and keeps an Outperform rating on the shares after Q3 revenue and profitability beat the firm’s expectations as the company benefits from continued growth in the social casino category as well as upside from SuprNation contributions. The firm likes that DoubleDown’s player engagement and monetization trends are “bucking the overall social casino market challenges” and appreciates its ability to leverage its core strengths with iGaming, the analyst tells investors in a post-earnings note.
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Read More on DDI:
- DoubleDown Interactive Shows Revenue Growth Amid Strategic Expansion
- DoubleDown reports Q3 EPS 51c, consensus 55c
- Doubledown Interactive Co., Ltd. (DDI) Q3 Earnings Cheat Sheet
- DoubleDown Interactive Announces Q3 2024 Results
- Doubledown Interactive Ends Development Agreement
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