Q2 2024 EPS Estimates for Direct Digital Holdings, Inc. (NASDAQ:DRCT) Decreased by Roth Capital

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Research analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for shares of Direct Digital in a report released on Wednesday, March 27th. Roth Capital analyst D. Aftahi now expects 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.

A number of other analysts also recently commented on DRCT. TheStreet downgraded 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 report on Wednesday. Roth Mkm cut their price target on Direct Digital from $27.50 to $19.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Benchmark lowered their price target on Direct Digital from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Direct Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.83.

Direct Digital Stock Performance

Shares of Direct Digital stock opened at $16.04 on Thursday. The company has a market cap of $228.89 million, a PE ratio of 114.57 and a beta of 8.14. Direct Digital has a 52 week low of $1.96 and a 52 week high of $35.88. The business has a 50 day moving average price of $18.53 and a 200-day moving average price of $11.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 3.51.

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

Institutional Investors Weigh In On Direct Digital

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG bought a new stake in shares of Direct Digital during the 1st quarter valued at $31,000. Renaissance Technologies LLC purchased a new stake in shares of Direct Digital during the 3rd quarter valued at about $30,000. Vanguard Group Inc. raised its position in shares of Direct Digital by 335.1% during the 3rd 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 in the last quarter. Two Sigma Investments LP raised its position in shares of Direct Digital by 146.5% during the 3rd quarter. Two Sigma Investments LP now owns 28,760 shares of the company’s stock valued at $64,000 after buying an additional 17,095 shares in the last quarter. Finally, State Street Corp purchased a new stake in Direct Digital in the 3rd quarter worth about $36,000. 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.