Direct Digital (NASDAQ:DRCT) Rating Reiterated by Benchmark

Benchmark reissued their buy rating on shares of Direct Digital (NASDAQ:DRCT) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

A number of other analysts also recently issued reports 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 research report on Wednesday, March 27th. Noble Financial restated a market perform rating on shares of Direct Digital in a research report on Wednesday, March 27th. Finally, TheStreet downgraded Direct Digital from a c rating to a d+ rating in a research report on Wednesday, February 14th.

Direct Digital Stock Down 10.0 %

NASDAQ DRCT opened at $6.24 on Wednesday. The company has a market capitalization of $89.04 million, a P/E ratio of 44.57 and a beta of 7.91. The stock has a 50 day moving average price of $17.81 and a 200-day moving average price of $12.10. Direct Digital has a one year low of $1.96 and a one year high of $35.88. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.16 and a current ratio of 1.16.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $66.02 million. Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, equities analysts predict that Direct Digital will post 0.16 EPS for the current fiscal year.

Institutional Trading of Direct Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intrinsic Edge Capital Management LLC purchased a new stake in Direct Digital in the fourth quarter worth $1,155,000. Denali Advisors LLC purchased a new stake in Direct Digital in the fourth quarter worth $359,000. Raymond James & Associates purchased a new position in shares of Direct Digital during the fourth quarter valued at $404,000. Perritt Capital Management Inc. increased its stake in shares of 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 buying an additional 12,480 shares during the period. Finally, Warberg Asset Management LLC purchased a new position in shares of Direct Digital during the third quarter valued at $76,000. Hedge funds and other 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.