Direct Digital (NASDAQ:DRCT) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of Direct Digital (NASDAQ:DRCT) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock.

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

Direct Digital Trading Down 10.0 %

Shares of Direct Digital stock opened at $6.24 on Wednesday. Direct Digital has a 1 year low of $1.96 and a 1 year high of $35.88. The firm has a market cap of $89.04 million, a PE ratio of 44.57 and a beta of 7.91. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50 day simple moving average of $17.81 and a two-hundred day simple moving average of $12.10.

Direct Digital (NASDAQ:DRCT) last posted its quarterly earnings results on Tuesday, March 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). The business 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 business posted $0.01 earnings per share. Analysts expect that Direct Digital will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DRCT. Intrinsic Edge Capital Management LLC purchased a new position in Direct Digital during the 4th quarter valued at $1,155,000. Warberg Asset Management LLC purchased a new position in Direct Digital during the 3rd quarter valued at $76,000. Raymond James & Associates purchased a new position in Direct Digital during the 4th quarter valued at $404,000. Denali Advisors LLC purchased a new position in Direct Digital during the 4th quarter valued at $359,000. Finally, Perritt Capital Management Inc. increased its position in Direct Digital by 31.2% during the 3rd 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 during the period. 4.02% of the stock is owned by hedge funds and other institutional investors.

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.