Direct Digital (NASDAQ:DRCT) PT Lowered to $19.00

Direct Digital (NASDAQ:DRCT) had its target price dropped by research analysts at Roth Mkm from $27.50 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price target indicates a potential upside of 24.67% from the company’s current price.

Several other research analysts have also recently weighed in on DRCT. TheStreet cut 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 research note on Wednesday. Finally, Benchmark reduced their price objective on Direct Digital from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Direct Digital currently has a consensus rating of “Moderate Buy” and an average target price of $15.83.

Direct Digital Trading Down 5.0 %

Direct Digital stock opened at $15.24 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 3.51. The business’s fifty day simple moving average is $18.61 and its two-hundred day simple moving average is $11.03. Direct Digital has a 12 month low of $1.96 and a 12 month high of $35.88. The company has a market capitalization of $217.47 million, a price-to-earnings ratio of 108.86 and a beta of 8.14.

Direct Digital (NASDAQ:DRCT) last released 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 48.38% and a net margin of 1.26%. The company had revenue of $41.01 million during the quarter, compared to the consensus estimate of $66.02 million. During the same period last year, the firm posted $0.01 earnings per share. As a group, equities analysts predict that Direct Digital will post 0.72 earnings per share for the current fiscal year.

Institutional Trading of Direct Digital

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Direct Digital by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock valued at $2,031,000 after acquiring an additional 13,431 shares during the last quarter. Renaissance Technologies LLC increased its position in Direct Digital by 162.7% in the first 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 purchased a new stake in Direct Digital in the fourth quarter worth about $1,155,000. Perritt Capital Management Inc. increased 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 worth $134,000 after buying an additional 12,480 shares in the last quarter. Finally, Two Sigma Investments LP increased 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 worth $80,000 after buying an additional 4,267 shares in the last quarter. Hedge funds and other institutional investors own 4.02% of the company’s stock.

Direct Digital Company Profile

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.