DoubleVerify (NYSE:DV) Posts Earnings Results, Hits Expectations

DoubleVerify (NYSE:DV) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04, Briefing.com reports. The firm had revenue of $155.89 million for the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.76%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. DoubleVerify updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

DoubleVerify Stock Up 0.5 %

Shares of DV traded up $0.10 during trading on Thursday, reaching $21.22. 502,939 shares of the company traded hands, compared to its average volume of 2,390,422. DoubleVerify has a twelve month low of $17.50 and a twelve month high of $43.00. The stock has a market cap of $3.65 billion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 3.32 and a beta of 0.93. The stock has a 50-day simple moving average of $19.36 and a 200-day simple moving average of $28.58.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now directly owns 145,944 shares in the company, valued at $4,524,264. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the completion of the transaction, the insider now owns 145,944 shares in the company, valued at $4,524,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the transaction, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The disclosure for this sale can be found here. Insiders sold a total of 4,428 shares of company stock worth $98,778 over the last three months. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DV. Capital One Financial lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 7th. JMP Securities decreased their price objective on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 8th. Truist Financial decreased their price objective on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Barclays decreased their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of DoubleVerify in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.39.

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.

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.