Direct Digital Q3 revenue drops
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Direct Digital's Q3 revenue fell 12%, missing analyst expectations, while net loss improved but also missed estimates. Buy-side advertising revenue grew 7% year-over-year, driven by new verticals, but sell-side revenue declined due to lower inventory and engagement. Operating expenses were reduced by 15% due to cost-saving initiatives. Analysts maintain a "buy" rating, with a median 12-month price target of $6.00, significantly above the recent closing price of $0.33.
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