Benchmark Raises Direct Digital (NASDAQ:DRCT) Price Target to $8.00

Direct Digital (NASDAQ:DRCT) had its price objective boosted by stock analysts at Benchmark from $2.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “speculative buy” rating on the stock.

Several other brokerages have also recently issued reports on DRCT. Wall Street Zen upgraded Direct Digital to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Direct Digital has an average rating of “Hold” and a consensus price target of $8.00.

Direct Digital Price Performance

Shares of DRCT stock opened at $0.78 on Wednesday. The company has a market cap of $426,250.00, a price-to-earnings ratio of -0.01 and a beta of 6.04. The stock has a 50 day simple moving average of $1.23 and a 200-day simple moving average of $7.03. Direct Digital has a 1-year low of $0.70 and a 1-year high of $67.65.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Tuesday, March 31st. The company reported ($22.00) earnings per share for the quarter, missing the consensus estimate of ($17.58) by ($4.42). The firm had revenue of $8.41 million during the quarter, compared to analyst estimates of $7.74 million. During the same period last year, the firm posted ($29.88) earnings per share. Analysts anticipate that Direct Digital will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd boosted its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the quarter. XTX Topco Ltd owned 0.28% of Direct Digital worth $30,000 at the end of the most recent quarter. 4.02% of the stock is currently owned by institutional investors and hedge funds.

Direct Digital Company Profile

Direct Digital Holdings, Inc (NASDAQ: DRCT) is a provider of cloud-based marketing software and services tailored to mortgage lenders and real estate professionals. The company’s integrated platform is designed to help its clients generate, nurture and convert leads through customer relationship management (CRM), automated marketing campaigns, customizable websites and digital content delivery. By combining proprietary tools with expert support, Direct Digital enables users to streamline workflows, improve customer engagement and drive growth in competitive markets.

The company’s flagship offerings include a CRM system that centralizes prospect and client data, marketing automation that triggers timely email and digital campaigns, and website solutions that are optimized for lead capture and search-engine visibility.