DoubleVerify (NYSE:DV) Sets New 12-Month Low at $16.90

DoubleVerify Holdings, Inc. (NYSE:DV) hit a new 52-week low on Monday . The stock traded as low as $16.90 and last traded at $16.90, with a volume of 1401 shares traded. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

DV has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Truist Financial dropped their price target on DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of DoubleVerify in a research note on Friday, June 14th. Macquarie reaffirmed an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a research report on Wednesday, July 31st. Finally, Barclays decreased their price target on DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.18.

DoubleVerify Stock Performance

The firm has a 50 day moving average price of $19.14 and a two-hundred day moving average price of $23.11. The company has a market capitalization of $2.94 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92.

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

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the transaction, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,292 shares of company stock worth $104,835 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors have recently modified their holdings of the company. Whittier Trust Co. bought a new stake in DoubleVerify in the first quarter valued at approximately $28,000. RiverPark Advisors LLC bought a new position in DoubleVerify in the first quarter valued at about $54,000. CWM LLC boosted its holdings in shares of DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after buying an additional 587 shares during the period. Finally, Fifth Third Bancorp grew its holdings in DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.