Direct Digital downgraded to Speculative Buy from Buy at Benchmark

Benchmark downgraded Direct Digital (DRCT) to Speculative Buy from Buy with a price target of $2, down from $6, after what the firm calls “a really tough 3Q25 print.” The company should have enough liquidity, so “they are still in the race,” says the analyst, who contends shares “could be meaningfully higher by this time next year” if this management team “can weather this last storm.”