Direct Digital (DRCT) to Release Earnings on Thursday

Posted by Defense World Staff on May 4th, 2023

Direct Digital (NASDAQ:DRCT – Get Rating) will be posting its quarterly earnings results after the market closes on Thursday, May 11th. Analysts expect Direct Digital to post earnings of ($0.09) per share for the quarter. Direct Digital has set its FY 2023 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Direct Digital (NASDAQ:DRCT – Get Rating) last issued its quarterly earnings results on Thursday, March 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The business had revenue of $29.42 million during the quarter, compared to the consensus estimate of $28.86 million. Direct Digital had a net margin of 3.32% and a return on equity of 72.44%. On average, analysts expect Direct Digital to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Direct Digital Trading Down 0.3 %

Shares of DRCT stock opened at $3.22 on Thursday. The firm has a market capitalization of $45.66 million, a P/E ratio of 20.13 and a beta of 4.89. Direct Digital has a twelve month low of $1.16 and a twelve month high of $6.53. The stock’s fifty day simple moving average is $3.50 and its 200 day simple moving average is $3.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02.

Institutional Investors Weigh In On Direct Digital

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Direct Digital in the third quarter valued at $30,000. UBS Group AG bought a new position in Direct Digital in the first quarter valued at $31,000. State Street Corp bought a new position in shares of Direct Digital during the third quarter valued at about $36,000. Geode Capital Management LLC grew its stake in shares of Direct Digital by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock valued at $40,000 after buying an additional 3,966 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Direct Digital by 146.5% during the third 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 during the last quarter. Hedge funds and other institutional investors own 7.34% of the company’s stock.

Analyst Upgrades and Downgrades

DRCT has been the topic of a number of research reports. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $5.50 price target on shares of Direct Digital in a research note on Thursday, April 20th. Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Direct Digital in a report on Friday, March 24th.

Direct Digital Company Profile

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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.