Digi International Inc. (NASDAQ:DGII) is a provider of Internet of Things networking hardware products and solutions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DGII’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Digi International could be a solid choice for investors.
Current Quarter Estimates for DGII
In the past 30 days, 3 estimates have gone higher for Digi International while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 7 cents a share 30 days ago, to 10 today, a move of 42.9%.
Current Year Estimates for DGII
Meanwhile, Digi International’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 36 cents per share 30 days ago to 40 cents per share today, an increase of 11.1%.
Bottom Line
The stock has also started to move higher lately, adding 22.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
DIGI INTL INC (DGII): Free Stock Analysis Report
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