Direct Digital Holdings, Inc. (NASDAQ:DRCT) Forecasted to Earn Q2 2024 Earnings of $0.19 Per Share

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Analysts at Roth Capital lowered their Q2 2024 earnings estimates for shares of Direct Digital in a research report issued to clients and investors on Wednesday, March 27th. Roth Capital analyst D. Aftahi now anticipates that the company will earn $0.19 per share for the quarter, down from their previous forecast of $0.20. The consensus estimate for Direct Digital’s current full-year earnings is $0.72 per share.

Direct Digital (NASDAQ:DRCT) last issued 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 1.26% and a return on equity of 48.38%. The business had revenue of $41.01 million during the quarter, compared to analyst estimates of $66.02 million. During the same period in the previous year, the business posted $0.01 earnings per share.

Several other research firms also recently weighed in on DRCT. TheStreet downgraded shares of Direct Digital from a “c” rating to a “d+” rating in a research report on Wednesday, February 14th. Benchmark decreased their target price on Direct Digital from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday. Noble Financial reiterated a “market perform” rating on shares of Direct Digital in a research report on Wednesday. Finally, Roth Mkm decreased their price objective on Direct Digital from $27.50 to $19.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.83.

Direct Digital Stock Performance

NASDAQ:DRCT opened at $15.24 on Thursday. The company has a fifty day moving average of $18.70 and a two-hundred day moving average of $11.12. Direct Digital has a fifty-two week low of $1.96 and a fifty-two week high of $35.88. The stock has a market capitalization of $217.47 million, a PE ratio of 108.86 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.

Institutional Trading of Direct Digital

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Direct Digital by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock valued at $2,031,000 after acquiring an additional 13,431 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Direct Digital by 162.7% in the 1st 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 during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Direct Digital in the 4th quarter valued at approximately $1,155,000. Perritt Capital Management Inc. increased its holdings in shares of Direct Digital by 31.2% during the 3rd 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 last quarter. Finally, Two Sigma Investments LP raised its position in shares of Direct Digital by 14.8% during the 4th quarter. Two Sigma Investments LP now owns 33,027 shares of the company’s stock valued at $80,000 after buying an additional 4,267 shares during the period. 4.02% of the stock is currently owned by hedge funds and other institutional investors.

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.