Direct Digital (NASDAQ:DRCT) Given “Market Perform” Rating at Noble Financial

Noble Financial reaffirmed their market perform rating on shares of Direct Digital (NASDAQ:DRCTFree Report) in a research report report published on Wednesday morning, reports.

Several other research firms have also recently weighed in on DRCT. TheStreet cut Direct Digital from a c rating to a d+ rating in a research report on Wednesday, February 14th. Roth Mkm upped their price target on Direct Digital from $12.50 to $27.50 and gave the stock a buy rating in a report on Wednesday, March 13th. Finally, Benchmark raised their price objective on shares of Direct Digital from $15.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $15.83.

Read Our Latest Report on DRCT

Direct Digital Trading Down 39.5 %

NASDAQ:DRCT opened at $16.04 on Wednesday. The company’s 50 day moving average is $18.53 and its 200-day moving average is $11.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 3.51. Direct Digital has a 12 month low of $1.96 and a 12 month high of $35.88. The firm has a market cap of $228.89 million, a price-to-earnings ratio of 69.74 and a beta of 8.14.

Direct Digital (NASDAQ:DRCTGet Free Report) last announced its earnings results on Tuesday, March 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). Direct Digital had a return on equity of 78.67% and a net margin of 2.32%. The firm had revenue of $41.01 million during the quarter, compared to the consensus estimate of $66.02 million. During the same quarter last year, the business earned $0.01 EPS. Equities analysts anticipate that Direct Digital will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DRCT. Vanguard Group Inc. increased its holdings in Direct Digital by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock valued at $2,031,000 after buying an additional 13,431 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Direct Digital by 162.7% in the 1st quarter. Renaissance Technologies LLC now owns 110,315 shares of the company’s stock worth $357,000 after buying an additional 68,315 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Direct Digital during the 4th quarter worth approximately $1,155,000. Perritt Capital Management Inc. boosted its stake in Direct Digital by 31.2% in the 3rd quarter. Perritt Capital Management Inc. now owns 52,480 shares of the company’s stock valued at $134,000 after buying an additional 12,480 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Direct Digital by 14.8% in the fourth quarter. Two Sigma Investments LP now owns 33,027 shares of the company’s stock valued at $80,000 after acquiring an additional 4,267 shares during the period. 4.02% of the stock is currently owned by institutional investors and hedge funds.

About Direct Digital

(Get Free Report)

Direct Digital Holdings, Inc operates as an end-to-end full-service programmatic advertising platform. The company's platform primarily focuses on providing advertising technology, data-driven campaign optimization, and other solutions to underserved and less efficient markets on both the buy- and sell-side of the digital advertising ecosystem.

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