Direct Digital (NASDAQ:DRCT) Rating Reiterated by Benchmark

Direct Digital (NASDAQ:DRCT)‘s stock had its “buy” rating reiterated by Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock. Benchmark’s price target would suggest a potential upside of 283.33% from the stock’s previous close.

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

Direct Digital Stock Down 13.4 %

NASDAQ:DRCT traded down $0.93 during trading hours on Wednesday, reaching $6.00. 186,495 shares of the company traded hands, compared to its average volume of 238,710. The business’s 50-day moving average price is $17.98 and its two-hundred day moving average price is $12.14. The stock has a market capitalization of $85.62 million, a P/E ratio of 40.86 and a beta of 7.91. Direct Digital has a 1 year low of $1.96 and a 1 year high of $35.88. 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 (NASDAQ:DRCT) last announced its quarterly earnings data on Tuesday, March 26th. The company reported ($0.08) earnings per share (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 analysts’ expectations of $66.02 million. Direct Digital had a net margin of 1.26% and a return on equity of 48.38%. During the same quarter in the previous year, the firm posted $0.01 EPS. Analysts predict that Direct Digital will post 0.16 earnings per share for the current year.

Institutional Trading of Direct Digital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Intrinsic Edge Capital Management LLC bought a new stake in shares of Direct Digital in the fourth quarter worth $1,155,000. Warberg Asset Management LLC bought a new stake in shares of Direct Digital in the third quarter worth $76,000. Raymond James & Associates bought a new stake in shares of Direct Digital in the fourth quarter worth $404,000. Denali Advisors LLC purchased a new position in Direct Digital during the fourth quarter valued at $359,000. Finally, Perritt Capital Management Inc. lifted its position in Direct Digital by 31.2% during 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 in the last quarter. 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.