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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Stock analysts at Noble Financial issued their Q1 2024 EPS estimates for Direct Digital in a research note issued to investors 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 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 issued 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). The firm had revenue of $41.01 million for the quarter, compared to analysts’ expectations of $66.02 million. Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. During the same period last year, the firm earned $0.01 earnings per share.

A number of other research firms also recently issued reports on DRCT. Benchmark reduced their price target on shares of Direct Digital from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday. TheStreet cut shares of Direct Digital from a “c” rating to a “d+” rating in a report on Wednesday, February 14th. Finally, Roth Mkm lowered their price target on shares of Direct Digital from $27.50 to $19.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Direct Digital has a consensus rating of “Moderate Buy” and an average target price of $15.83.

Direct Digital Price Performance

Direct Digital stock opened at $15.24 on Friday. The company’s 50 day simple moving average is $18.61 and its 200-day simple moving average is $11.03. 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 has a 1 year low of $1.96 and a 1 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.

Institutional Trading of Direct Digital

Several institutional investors and hedge funds have recently bought and sold shares of DRCT. Vanguard Group Inc. raised its position in Direct Digital by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock worth $2,031,000 after buying an additional 13,431 shares during the last quarter. Renaissance Technologies LLC raised its position in Direct Digital by 162.7% during the 1st quarter. Renaissance Technologies LLC now owns 110,315 shares of the company’s stock worth $357,000 after buying an additional 68,315 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Direct Digital during the 4th quarter worth $1,155,000. Perritt Capital Management Inc. grew its stake in shares of Direct Digital by 31.2% during the 3rd quarter. Perritt Capital Management Inc. now owns 52,480 shares of the company’s stock worth $134,000 after purchasing an additional 12,480 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Direct Digital by 14.8% during the 4th quarter. Two Sigma Investments LP now owns 33,027 shares of the company’s stock worth $80,000 after purchasing an additional 4,267 shares during the period. 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.