Direct Digital (NASDAQ:DRCT) Price Target Lowered to $23.00 at Benchmark

Direct Digital (NASDAQ:DRCT) had its price objective reduced by Benchmark from $30.00 to $23.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently weighed in on DRCT. TheStreet downgraded shares of Direct Digital from a c rating to a d+ rating in a research note on Wednesday, February 14th. Noble Financial restated a market perform rating on shares of Direct Digital in a report on Wednesday. Finally, Roth Mkm lifted their target price on Direct Digital from $12.50 to $27.50 and gave the company a buy rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $15.83.

Direct Digital Stock Performance

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

Direct Digital (NASDAQ:DRCT) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The company had revenue of $41.01 million for the quarter, compared to analyst estimates of $66.02 million. Direct Digital had a net margin of 2.32% and a return on equity of 78.67%. During the same period in the prior year, the company earned $0.01 EPS. On average, research analysts predict that Direct Digital will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Direct Digital by 31.5% in the fourth quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock worth $40,000 after acquiring an additional 3,966 shares in the last quarter. Two Sigma Investments LP boosted its position in Direct Digital by 14.8% during the 4th quarter. Two Sigma Investments LP now owns 33,027 shares of the company’s stock worth $80,000 after purchasing an additional 4,267 shares during the period. UBS Group AG acquired a new stake in Direct Digital in the 1st quarter valued at $31,000. Perritt Capital Management Inc. raised its position in Direct Digital by 31.2% in the third quarter. Perritt Capital Management Inc. now owns 52,480 shares of the company’s stock valued at $134,000 after purchasing an additional 12,480 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Direct Digital during the third quarter worth about $30,000. 4.02% of the stock is owned by institutional investors and hedge funds.

About Direct Digital

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.