DoubleVerify Holdings, Inc. (NYSE:DV) Receives Average Rating of “Moderate Buy” from Brokerages

DoubleVerify Holdings, Inc. (NYSE:DV) has received an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $31.53.

Several equities research analysts have issued reports on the stock. Macquarie reissued an “outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on DoubleVerify from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair cut DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler lowered their target price on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their price target on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $19.25, for a total transaction of $33,957.00. Following the transaction, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,488,294.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 5,292 shares of company stock valued at $104,835. 3.00% of the stock is owned by company insiders.

Institutional Trading of DoubleVerify

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after purchasing an additional 216,370 shares in the last quarter. Capital World Investors raised its position in shares of DoubleVerify by 6.0% in the 4th quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after buying an additional 301,011 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of DoubleVerify by 813.2% during the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after acquiring an additional 3,577,575 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of DoubleVerify during the 2nd quarter worth approximately $73,268,000. Finally, Bank of New York Mellon Corp increased its stake in DoubleVerify by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 3,713,684 shares of the company’s stock valued at $130,573,000 after acquiring an additional 31,000 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $18.82 on Friday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 49.53, a price-to-earnings-growth ratio of 2.75 and a beta of 0.93. The stock’s 50-day moving average is $19.45 and its 200-day moving average is $27.87. DoubleVerify has a one year low of $17.50 and a one year high of $43.00.

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

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