Direct Digital (NASDAQ:DRCT) Rating Reiterated by Benchmark

Benchmark reissued their buy rating on shares of Direct Digital (NASDAQ:DRCT - Free Report) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

A number of other analysts have also weighed in on DRCT. TheStreet lowered shares of Direct Digital from a c rating to a d+ rating in a research report on Wednesday, February 14th. Noble Financial reissued a market perform rating on shares of Direct Digital in a research report on Wednesday, March 27th. Finally, Roth Mkm reduced their price objective on shares of Direct Digital from $27.50 to $19.00 and set a buy rating on the stock in a research report on Wednesday, March 27th.

Direct Digital Price Performance

Shares of DRCT traded down $0.69 during midday trading on Wednesday, hitting $6.24. 239,843 shares of the company traded hands, compared to its average volume of 239,461. The firm has a 50 day moving average of $17.98 and a 200-day 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 cap of $89.04 million, a price-to-earnings ratio of 42.86 and a beta of 7.91. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.16 and a current ratio of 1.16.

Direct Digital (NASDAQ:DRCT - Get Free Report) last announced its quarterly 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). Direct Digital had a net margin of 1.26% and a return on equity of 48.38%. The business had revenue of $41.01 million during the quarter, compared to the consensus estimate of $66.02 million. During the same period in the previous year, the business posted $0.01 EPS. On average, analysts forecast that Direct Digital will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Direct Digital

Hedge funds and other institutional investors have recently modified their holdings of the business. Perritt Capital Management Inc. boosted its stake in 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 acquiring an additional 12,480 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Direct Digital during the fourth quarter worth $359,000. Raymond James & Associates purchased a new position in shares of Direct Digital during the fourth quarter worth $404,000. Warberg Asset Management LLC purchased a new position in shares of Direct Digital during the third quarter worth $76,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Direct Digital in the fourth quarter valued at $1,155,000. 4.02% of the stock is currently owned by 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.