Truist Financial Lowers DoubleVerify (NYSE:DV) Price Target to $32.00

DoubleVerify (NYSE:DV) had its price target reduced by research analysts at Truist Financial from $39.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 68.42% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Needham & Company LLC decreased their target price on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. TheStreet upgraded DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their target price on shares of DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Macquarie raised shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, March 11th. Finally, Stifel Nicolaus lowered their price objective on DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.05.

DoubleVerify Price Performance

NYSE:DV traded up $0.17 during trading hours on Wednesday, reaching $19.00. The company had a trading volume of 858,170 shares, compared to its average volume of 2,085,922. The firm has a market cap of $3.26 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. DoubleVerify has a 1-year low of $17.74 and a 1-year high of $43.00. The business’s 50 day moving average price is $31.41 and its 200-day moving average price is $34.14.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. DoubleVerify’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Activity at DoubleVerify

In other news, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the sale, the insider now owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew E. Grimmig sold 50,924 shares of DoubleVerify stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at approximately $1,322,572.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,431 shares of company stock worth $3,070,904. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DV. Shaker Investments LLC OH increased its position in DoubleVerify by 0.4% in the 4th quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock valued at $2,793,000 after acquiring an additional 280 shares during the period. Assetmark Inc. grew its position in shares of DoubleVerify by 15.1% in the 3rd quarter. Assetmark Inc. now owns 3,279 shares of the company’s stock worth $92,000 after acquiring an additional 430 shares in the last quarter. Huntington National Bank raised its stake in DoubleVerify by 41.6% during the 3rd quarter. Huntington National Bank now owns 1,495 shares of the company’s stock valued at $42,000 after acquiring an additional 439 shares in the last quarter. Signaturefd LLC raised its stake in shares of DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after buying an additional 498 shares in the last quarter. Finally, 1492 Capital Management LLC grew its holdings in shares of DoubleVerify by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock worth $2,074,000 after acquiring an additional 553 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.