Direct Digital price target raised to $30 from $15 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Direct Digital to $30 from $15 and keeps a Buy rating on the shares. Direct Digital is “flourishing in a questionable ad environment” and gross revenue will likely have increased 10-fold in a span of just under five years, the analyst tells investors. The firm sees the “very real possibility” that $300M of revenue could be achieved a full year ahead of the firm’s 2025 expectations, the analyst added.