Analysts Set Expectations for Direct Digital FY2024 Earnings

Direct Digital Holdings, Inc. (NASDAQ:DRCT) – Research analysts at Noble Financial reduced their FY2024 earnings per share estimates for Direct Digital in a report released on Wednesday, November 13th. Noble Financial analyst M. Kupinski now anticipates that the company will earn ($1.45) per share for the year, down from their previous forecast of $0.02. The consensus estimate for Direct Digital’s current full-year earnings is $0.16 per share. Noble Financial also issued estimates for Direct Digital’s Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($0.22) EPS.

Direct Digital Stock Down 18.7 %

Shares of NASDAQ:DRCT opened at $1.57 on Friday. The firm has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $3.32. Direct Digital has a fifty-two week low of $1.56 and a fifty-two week high of $35.88. The company has a market cap of $23.02 million, a PE ratio of -1.34 and a beta of 7.45.

Direct Digital (NASDAQ:DRCT) last announced its quarterly earnings data on Tuesday, October 15th. The company reported ($0.16) earnings per share (EPS) for the quarter. The firm had revenue of $21.86 million for the quarter. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd acquired a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned 0.15% of Direct Digital at the end of the most recent quarter. 4.02% of the stock is owned by institutional investors.

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.