BUZZ-Direct Digital falls after results, outlook miss
Reuters · 03/27 11:22
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** 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)
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