Direct Digital (NASDAQ:DRCT – Free Report) had its price target trimmed by Roth Mkm from $27.50 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.
Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Direct Digital from ac rating to a d+ rating in a report on Wednesday, February 14th. Benchmark lowered their price target on shares of Direct Digital from $30.00 to $23.00 and set a buy rating for the company in a report on Wednesday. Finally, Noble Financial reaffirmed a market perform rating on shares of Direct Digital in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $15.83.
Get Our Latest Stock Report on DRCT
Direct Digital Trading Down 39.5%
Shares of Direct Digital stock opened at $16.04 on Wednesday. The company has a market capitalization of $228.89 million, a P/E ratio of 69.74 and a beta of 8.14. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.16 and a current ratio of 1.16. The company has a fifty day moving average of $18.53 and a 200 day moving average of $11.00. Direct Digital has a fifty-two week low of $1.96 and a fifty-two week high of $35.88.
Direct Digital (NASDAQ:DRCT – Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). Direct Digital had a net margin of 2.32% and a return on equity of 78.67%. The company had revenue of $41.01 million for the quarter, compared to the consensus estimate of $66.02 million. During the same period last year, the company earned $0.01 EPS. On average, sell-side analysts anticipate that Direct Digital will post 0.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in DRCT. Renaissance Technologies LLC bought a new position in shares of Direct Digital in the 3rd quarter valued at about $30,000. UBS Group AG purchased a new stake in Direct Digital in the 1st quarter worth about $31,000. State Street Corp purchased a new stake in Direct Digital in the 3rd quarter worth about $36,000. Geode Capital Management LLC raised its position in Direct Digital by 31.5% in the 4th quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock worth $40,000 after purchasing an additional 3,966 shares during the period. Finally, Two Sigma Investments LP raised its position in Direct Digital by 146.5% in the 3rd quarter. Two Sigma Investments LP now owns 28,760 shares of the company’s stock worth $64,000 after purchasing an additional 17,095 shares during the period. Institutional investors own 4.02% of the company’s stock.
About Direct Digital
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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.
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