DoubleVerify (DV) Expected to Announce Earnings on Thursday

DoubleVerify (NYSE:DV) will likely be releasing its earnings data after the market closes on Thursday, February 27th. Analysts expect DoubleVerify to post earnings of $0.17 per share and revenue of $196.82 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

DoubleVerify Stock Performance

Shares of DoubleVerify stock opened at $22.51 on Thursday. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 60.82, a PEG ratio of 2.66 and a beta of 0.99. The business’s 50 day moving average price is $20.42 and its 200 day moving average price is $19.19.

DoubleVerify declared that its Board of Directors has approved a share buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

DV has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 target price for the company. Barclays cut their target price on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada raised their target price on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. BMO Capital Markets cut their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Scotiabank started coverage on DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.