DoubleVerify (NYSE:DV) PT Lowered to $22.00

DoubleVerify (NYSE:DV) had its target price reduced by research analysts at Stifel Nicolaus from $25.00 to $22.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 26.98% from the stock’s current price.

Several other research analysts have also weighed in on DV. Barclays lowered their price objective on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research note on Tuesday, September 17th. Truist Financial decreased their target price on DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Macquarie cut their price target on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of DoubleVerify in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $30.24.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $17.33 on Monday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. DoubleVerify has a one year low of $16.38 and a one year high of $43.00. The stock’s 50-day moving average is $18.07 and its 200-day moving average is $21.17.

DoubleVerify (NYSE:DV) last announced its earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $155.89 million during the quarter, compared to analysts’ expectations of $153.78 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that DoubleVerify will post 0.3 EPS for the current year.

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $17.21, for a total transaction of $30,358.44. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,404,301.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 8,820 shares of company stock worth $160,206. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently made changes to their positions in DV. Assenagon Asset Management S.A. bought a new stake in DoubleVerify during the 2nd quarter worth $73,268,000. Congress Asset Management Co. MA grew its holdings in shares of 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 purchasing an additional 3,577,575 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new position in shares of DoubleVerify in the second quarter valued at approximately $54,099,000. Mackenzie Financial Corp bought a new position in DoubleVerify in the 2nd quarter valued at approximately $53,015,000. Finally, Vanguard Group Inc. boosted its position in DoubleVerify by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after buying an additional 2,017,687 shares during the period. 97.29% of the stock is owned by institutional investors.

DoubleVerify Company Profile

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.