Direct Digital (NASDAQ:DRCT) Stock Rating Reaffirmed by Benchmark

Direct Digital (NASDAQ:DRCT)‘s stock had its “buy” rating reissued by Benchmark in a research note issued on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock. Benchmark’s target price points to a potential upside of 275.82% from the company’s previous close.

Other analysts have also issued reports about the stock. Roth Mkm lowered their target price on shares of Direct Digital from $27.50 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Noble Financial reiterated a “market perform” rating on shares of Direct Digital in a report on Wednesday, March 27th. Finally, TheStreet downgraded shares of Direct Digital from a “c” rating to a “d+” rating in a research note on Wednesday, February 14th.

Direct Digital Price Performance

DRCT stock opened at $6.12 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. Direct Digital has a 12 month low of $1.96 and a 12 month high of $35.88. The stock has a market cap of $87.33 million, a PE ratio of 43.71 and a beta of 7.91. The company has a 50-day moving average price of $17.61 and a 200 day moving average price of $12.06.

Direct Digital (NASDAQ:DRCT) last released its earnings results on Tuesday, March 26th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). Direct Digital had a net margin of 1.26% and a return on equity of 48.38%. The business had revenue of $41.01 million for the quarter, compared to the consensus estimate of $66.02 million. During the same period in the prior year, the company posted $0.01 EPS. Equities research analysts anticipate that Direct Digital will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Direct Digital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Perritt Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 12,480 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of Direct Digital in the 4th quarter worth approximately $359,000. Warberg Asset Management LLC bought a new position in shares of Direct Digital during the third quarter valued at approximately $76,000. Intrinsic Edge Capital Management LLC purchased a new position in Direct Digital during the fourth quarter valued at approximately $1,155,000. Finally, Raymond James & Associates bought a new position in Direct Digital in the fourth quarter worth approximately $404,000. Institutional investors own 4.02% of the company’s stock.

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.