Direct Digital Holdings, Inc. to Post Q1 2024 Earnings of ($0.11) Per Share, Roth Capital Forecasts (NASDAQ:DRCT)

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Research analysts at Roth Capital reduced their Q1 2024 EPS estimates for shares of Direct Digital in a report issued on Wednesday, March 27th. Roth Capital analyst D. Aftahi now forecasts that the company will post earnings of ($0.11) per share for the quarter, down from their previous estimate of $0.06. The consensus estimate for Direct Digital’s current full-year earnings is $0.72 per share. Roth Capital also issued estimates for Direct Digital’s Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.30 EPS and FY2025 earnings at $0.44 EPS.

A number of other equities research analysts have also issued reports on the stock. Benchmark dropped their price objective on shares of Direct Digital from $30.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday. TheStreet cut shares of Direct Digital from a “c” rating to a “d+” rating in a research report on Wednesday, February 14th. Noble Financial reaffirmed a “market perform” rating on shares of Direct Digital in a research report on Wednesday. Finally, Roth Mkm decreased their target price 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. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Direct Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

Direct Digital Trading Down 5.0 %

Shares of DRCT opened at $15.24 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 3.51. Direct Digital has a 12-month low of $1.96 and a 12-month high of $35.88. The firm has a 50-day moving average price of $18.61 and a 200 day moving average price of $11.03. The firm has a market capitalization of $217.47 million, a P/E ratio of 108.86 and a beta of 8.14.

Direct Digital (NASDAQ:DRCT) last released its earnings results on Tuesday, March 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. The business had revenue of $41.01 million for the quarter, compared to analysts’ expectations of $66.02 million. During the same period in the previous year, the company earned $0.01 EPS.

Institutional Trading of Direct Digital

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Direct Digital by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock worth $2,031,000 after purchasing an additional 13,431 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Direct Digital during the fourth quarter worth about $1,155,000. Denali Advisors LLC acquired a new stake in shares of Direct Digital during the fourth quarter worth about $359,000. Raymond James & Associates acquired a new stake in shares of Direct Digital during the fourth quarter worth about $404,000. Finally, Perritt Capital Management Inc. increased its stake in shares of Direct Digital by 31.2% during the third quarter. Perritt Capital Management Inc. now owns 52,480 shares of the company’s stock worth $134,000 after buying an additional 12,480 shares during the period. Institutional investors and hedge funds 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.