Roth MKM lowered the firm’s price target on Direct Digital (DRCT) to $2.50 from $7.50 and keeps a Buy rating on the shares after its Q3 results. The company faces ongoing challenges across both businesses that must be resolved to enhance the visibility into its ability to return to growth and profitability, though the firm believes this could occur by the second half of FY25 as comps ease and enough time passes to win new customers and restore volumes, the analyst tells investors in a research note.
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Read More on DRCT:
- Direct Digital Holdings Reports Q3 2024 Earnings Amid Challenges
- DRCT Upcoming Earnings Report: What to Expect?
- Direct Digital files to sell 2.93M shares of Class A common stock for holders
- Direct Digital enters strategic $20M equity reserve facility with New Circle
- Direct Digital regains Nasdaq compliance
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