Craig-Hallum downgraded Digi International (DGII) to Hold from Buy with a price target of $32, up from $28. Macro uncertainty and customer caution continues to impact the forward outlook so with the stock trading about 8% higher in the after-hours, the firm is stepping to the sidelines, the analyst tells investors. Digi management expects FY25 revenue and EBITDA to be flat with 2024, the analyst noted.
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Read More on DGII:
- Digi International price target raised to $32 from $26 at Piper Sandler
- Digi International Reports Mixed 2024 Financial Results
- Digi International sees Q1 adjusted EPS 46c-50c, consensus 51c
- Digi International sees FY25 ARR up 10%; revenue, adjusted EBITDA flat y/y
- Digi International reports Q4 adjusted EPS 52c, consensus 50c