Direct Digital falls after results, outlook miss

Direct Digital Holdings

27/03/2024 11:22

** Shares of advertising platform Direct Digital Holdings
Inc  DRCT.O  down 43.3% at $15.03 premarket
    ** Company posts Q4 GAAP loss of $0.08 per share and revenue
of $41 mln after markets close on Tuesday, missing analyst
estimates of profit of $0.26 per share and revenue of $66 mln,
respectively - LSEG data
    ** DRCT expects fiscal 2024 revenue between $170 mln and
$190 mln, vs analysts' expectations of $222.3 mln
    ** Brokerage Benchmark cuts PT on DRCT to $23 from $30;
median PT of 3 analysts covering stock is $19
    ** Until Tuesday's close, stock up ~78% YTD

 (Reporting by Atharva Singh in Bengaluru)
 ((atharva.singh@thomsonreuters.com))