Direct Digital’s (DRCT) Speculative Buy Rating Reaffirmed at Benchmark

Direct Digital (NASDAQ:DRCT)‘s stock had its “speculative buy” rating reaffirmed by equities research analysts at Benchmark in a research report issued on Friday,Benzinga reports. They presently have a $2.00 price objective on the stock, down from their prior price objective of $6.00.

DRCT has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, October 8th. Zacks Research upgraded Direct Digital to a “hold” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.00.

Direct Digital Stock Down 32.3%

Shares of Direct Digital stock traded down $0.10 during trading on Friday, hitting $0.21. 5,649,031 shares of the company were exchanged, compared to its average volume of 1,609,591. The stock has a market capitalization of $4.80 million, a price-to-earnings ratio of -0.12 and a beta of 5.87. The firm has a 50 day moving average price of $0.37 and a 200 day moving average price of $0.49. Direct Digital has a fifty-two week low of $0.19 and a fifty-two week high of $6.59.

Direct Digital (NASDAQ:DRCT) last issued its earnings results on Thursday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $7.98 million during the quarter, compared to analyst estimates of $14.50 million. Analysts predict that Direct Digital will post -1.91 earnings per share for the current year.

Institutional Trading of Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd increased its holdings in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 at the end of the most recent quarter. Hedge funds and other 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.