These Analysts Slash Their Forecasts On Direct Digital Holdings After Weak Results
Portfolio Pulse from Avi Kapoor
Direct Digital Holdings, Inc. (NASDAQ:DRCT) reported Q4 financial results below analyst expectations, with a loss of 8 cents per share against an expected gain of 26 cents, and quarterly sales of $41.01 million, missing estimates by 37.81%. Despite a 76% revenue growth year-over-year, the company's shares fell 36.3% to $16.82. Analysts from Benchmark, Roth MKM, and Noble Capital Markets adjusted their price targets and ratings following the earnings announcement.
March 27, 2024 | 4:48 pm
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NEGATIVE IMPACT
Direct Digital Holdings reported disappointing Q4 results, leading to a significant drop in its stock price and adjustments in analyst ratings and price targets.
The reported earnings miss and subsequent negative analyst revisions directly impact investor sentiment and stock price. The significant drop in stock price reflects immediate market reaction, and the adjustments in analyst ratings and price targets indicate a revised outlook on the company's future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100