Why Direct Digital Holdings Shares Are Soaring Today

Why Direct Digital Holdings Shares Are Soaring Today

Direct Digital Holdings Inc DRCT is trading higher Wednesday after Benchmark analyst Daniel Kurnos initiated coverage on the stock with a Buy rating and announced a $8 price target.

Given the company's end-to-end programmatic platform approach, Kurnos thinks Direct Digital separates itself from the competition in the ad-tech marketplace.

The Benchmark analyst also thinks Direct Digital has a leg up on the competition as a result of its focus on small and medium-sized businesses, which are often overlooked in the space, according to Kurnos.

Direct Digital is an end-to-end, full-service programmatic advertising platform primarily focused on providing advertising technology and data-driven campaign optimization.

See Also: Why ZIM Integrated Shipping Services Shares Are Trading Higher Today

DRCT 52-Week Range: $1.18 - $4.35

Direct Digital shares were up 76.6% at $2.11 at time of publication.

Posted In: why it's movingPenny StocksUpgradesPrice TargetAnalyst RatingsMoversTrading Ideas