DoubleVerify’s (DV) Equal Weight Rating Reaffirmed at Morgan Stanley

DoubleVerify (NYSE:DV)‘s stock had its “equal weight” rating restated by equities researchers at Morgan Stanley in a report released on Tuesday, MarketBeat.com reports. They presently have a $21.00 price objective on the stock, down from their prior price objective of $40.00. Morgan Stanley’s target price would suggest a potential upside of 10.24% from the stock’s previous close.

A number of other equities research analysts have also recently commented on DV. Needham & Company LLC lowered their target price on DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Piper Sandler decreased their price objective on DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. TheStreet raised shares of DoubleVerify from a “d+” rating to a “c-” rating in a research note on Thursday, February 29th. Bank of America cut shares of DoubleVerify from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $45.00 to $18.00 in a research note on Thursday, May 9th. Finally, Robert W. Baird cut their price objective on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.05.

DoubleVerify Trading Down 2.3 %

Shares of DV opened at $19.05 on Tuesday. The company’s 50 day simple moving average is $22.40 and its 200-day simple moving average is $31.54. DoubleVerify has a 12-month low of $17.50 and a 12-month high of $43.00. The firm has a market cap of $3.27 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that DoubleVerify will post 0.33 EPS for the current fiscal year.

DoubleVerify announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $30.85, for a total value of $27,765.00. Following the transaction, the insider now owns 139,802 shares in the company, valued at $4,312,891.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of DoubleVerify stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $32.53, for a total value of $172,148.76. Following the completion of the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at $2,375,665.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $30.85, for a total transaction of $27,765.00. Following the completion of the sale, the insider now owns 139,802 shares of the company’s stock, valued at $4,312,891.70. The disclosure for this sale can be found here. Insiders sold 29,951 shares of company stock valued at $984,214 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Motley Fool Asset Management LLC acquired a new position in shares of DoubleVerify in the 4th quarter valued at $962,000. Principal Financial Group Inc. lifted its position in shares of DoubleVerify by 9.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock worth $78,396,000 after buying an additional 185,458 shares during the period. Congress Asset Management Co. MA raised its stake in DoubleVerify by 813.2% during the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after acquiring an additional 3,577,575 shares in the last quarter. Ranger Investment Management L.P. boosted its stake in shares of DoubleVerify by 26.6% in the 4th quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock valued at $33,371,000 after purchasing an additional 190,786 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of DoubleVerify by 40.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock worth $5,388,000 after purchasing an additional 55,322 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.