DoubleVerify’s (DV) Outperform Rating Reiterated at Macquarie

DoubleVerify (NYSE:DV)‘s stock had its “outperform” rating reiterated by equities researchers at Macquarie in a report issued on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock. Macquarie’s price objective would indicate a potential upside of 17.92% from the stock’s previous close.

A number of other research firms also recently weighed in on DV. Truist Financial cut their target price on DoubleVerify from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a research report on Wednesday. Barclays decreased their price target on DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Canaccord Genuity Group decreased their price target on DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, BMO Capital Markets decreased their target price on DoubleVerify from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.39.

DoubleVerify Stock Down 1.8 %

DV stock traded down $0.38 during midday trading on Wednesday, reaching $21.20. The stock had a trading volume of 977,574 shares, compared to its average volume of 2,378,756. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 55.79, a PEG ratio of 3.13 and a beta of 0.93. DoubleVerify has a twelve month low of $17.50 and a twelve month high of $43.00. The business has a fifty day simple moving average of $19.32 and a two-hundred day simple moving average of $28.63.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $155.89 million for the quarter, compared to analysts’ expectations of $153.78 million. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. DoubleVerify’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities analysts predict that DoubleVerify will post 0.31 earnings per share for the current fiscal year.

DoubleVerify declared that its Board of Directors has approved a share repurchase program on Thursday, May 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total transaction of $35,315.28. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total value of $35,315.28. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the transaction, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Insiders have sold 4,428 shares of company stock valued at $98,778 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several hedge funds and other institutional investors have recently made changes to their positions in DV. Shaker Investments LLC OH boosted its holdings in DoubleVerify by 0.4% during the fourth quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock worth $2,793,000 after buying an additional 280 shares in the last quarter. Signaturefd LLC increased its position in shares of DoubleVerify by 84.7% in the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after acquiring an additional 498 shares in the last quarter. 1492 Capital Management LLC boosted its stake in shares of DoubleVerify by 1.0% in the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after purchasing an additional 553 shares during the period. Quadrant Capital Group LLC boosted 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 purchasing an additional 587 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in DoubleVerify by 42.0% during the 4th quarter. First Horizon Advisors Inc. now owns 2,382 shares of the company’s stock valued at $88,000 after acquiring an additional 704 shares during the last quarter. Hedge funds and other 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.