Direct Digital (NASDAQ:DRCT) Price Target Lowered to $19.00 at Roth Mkm

Direct Digital (NASDAQ:DRCT) had its price objective decreased by Roth Mkm from $27.50 to $19.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

DRCT has been the subject of a number of other reports. Noble Financial reaffirmed a market perform rating on shares of Direct Digital in a report on Wednesday. TheStreet lowered Direct Digital from a c rating to a d+ rating in a report on Wednesday, February 14th. Finally, Benchmark cut their price target on Direct Digital from $30.00 to $23.00 and set a buy rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Direct Digital presently has an average rating of Moderate Buy and a consensus target price of $15.83.

Direct Digital Stock Performance

NASDAQ:DRCT opened at $16.04 on Wednesday. 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 business has a fifty day simple moving average of $18.53 and a two-hundred day simple moving average of $11.00. Direct Digital has a 1 year low of $1.96 and a 1 year high of $35.88. The company has a market capitalization of $228.89 million, a P/E ratio of 69.74 and a beta of 8.14.

Direct Digital (NASDAQ:DRCT) last posted 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 return on equity of 78.67% and a net margin of 2.32%. The company 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 earned $0.01 earnings per share. On average, analysts expect that Direct Digital will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Direct Digital

Several large investors have recently added to or reduced their stakes in DRCT. Vanguard Group Inc. boosted its stake in Direct Digital by 335.1% during the third quarter. Vanguard Group Inc. now owns 123,024 shares of the company’s stock valued at $276,000 after buying an additional 94,748 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Direct Digital during the fourth quarter valued at about $1,155,000. Renaissance Technologies LLC raised its position in Direct Digital by 162.7% during the first quarter. Renaissance Technologies LLC now owns 110,315 shares of the company’s stock valued at $357,000 after purchasing an additional 68,315 shares in the last quarter. Warberg Asset Management LLC purchased a new stake in Direct Digital during the third quarter valued at about $76,000. Finally, Raymond James & Associates purchased a new stake in Direct Digital during the fourth quarter valued at about $404,000. Institutional investors own 4.02% of the company’s stock.

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.