Direct Digital (NASDAQ:DRCT) Rating Reiterated by Benchmark

Direct Digital (NASDAQ:DRCT)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $23.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 283.33% from the company’s current price.

Other equities analysts have also issued reports about the company. Roth Mkm cut their target price on Direct Digital from $27.50 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Noble Financial reissued a “market perform” rating on shares of Direct Digital in a report on Wednesday, March 27th. Finally, TheStreet cut shares of Direct Digital from a “c” rating to a “d+” rating in a research report on Wednesday, February 14th.

Direct Digital Stock Performance

NASDAQ:DRCT traded down $0.93 during trading hours on Wednesday, reaching $6.00. 186,495 shares of the stock were exchanged, compared to its average volume of 238,710. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 3.51. The firm has a 50 day simple moving average of $17.98 and a 200-day simple moving average of $12.14. Direct Digital has a 52 week low of $1.96 and a 52 week high of $35.88. 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 (NASDAQ:DRCT) last announced its quarterly earnings results on Tuesday, March 26th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. The company had revenue of $41.01 million for the quarter, compared to analyst estimates of $66.02 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, sell-side analysts forecast that Direct Digital will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Direct Digital

Several hedge funds have recently modified their holdings of the stock. Intrinsic Edge Capital Management LLC bought a new position in shares of Direct Digital in the 4th quarter valued at about $1,155,000. Denali Advisors LLC acquired a new stake in shares of Direct Digital in the fourth quarter valued at approximately $359,000. Raymond James & Associates acquired a new stake in shares of Direct Digital in the fourth quarter valued at approximately $404,000. Perritt Capital Management Inc. raised its position in shares of Direct Digital by 31.2% in 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 in the last quarter. Finally, Warberg Asset Management LLC acquired a new stake in shares of Direct Digital in the third quarter valued at approximately $76,000. 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.