Direct Digital Holdings, Inc. Forecasted to Earn Q1 2024 Earnings of ($0.15) Per Share (NASDAQ:DRCT)

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Noble Financial issued their Q1 2024 earnings per share estimates for Direct Digital in a report released on Wednesday, March 27th. Noble Financial analyst M. Kupinski forecasts that the company will post earnings of ($0.15) per share for the quarter. Noble Financial currently has a “Market Perform” rating on the stock. The consensus estimate for Direct Digital’s current full-year earnings is $0.72 per share. Noble Financial also issued estimates for Direct Digital’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at $0.02 EPS and FY2025 earnings at $0.45 EPS.

Direct Digital (NASDAQ:DRCT) last released 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 firm had revenue of $41.01 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.01 earnings per share.

A number of other equities analysts have also recently commented on the company. Roth Mkm lowered their price target on Direct Digital from $27.50 to $19.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark lowered their price target on Direct Digital from $30.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday. Finally, TheStreet cut Direct Digital from a “c” rating to a “d+” rating in a report on Wednesday, February 14th. 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 presently has an average rating of “Moderate Buy” and an average price target of $15.83.

Direct Digital Stock Performance

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

Institutional Investors Weigh In On Direct Digital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Direct Digital during the 3rd quarter valued at about $30,000. UBS Group AG bought a new stake in shares of Direct Digital during the 1st quarter valued at about $31,000. State Street Corp bought a new position in Direct Digital in the third quarter worth approximately $36,000. Geode Capital Management LLC increased its holdings in shares of Direct Digital by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock valued at $40,000 after acquiring an additional 3,966 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Direct Digital by 146.5% during the third quarter. Two Sigma Investments LP now owns 28,760 shares of the company’s stock worth $64,000 after purchasing an additional 17,095 shares during the period. Institutional investors and hedge funds 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.