Roth MKM analyst Darren Aftahi raised the firm’s price target on Direct Digital to $27.50 from $12.50 and keeps a Buy rating on the shares ahead of its Q4 results. The company has legs to generate above-30% growth in 2024, driven by transitioning clients to direct deals which provides a potential profit lift, the analyst tells investors in a research note. A string of new partnerships, broader audience reach, and a fully operational tech platform should lead to increased market share, wallet share, and improved cash flow for Direct Digital, the firm added.
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