DoubleVerify’s (DV) “Buy” Rating Reiterated at Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $33.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 93.10% from the company’s current price.

DV has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of DoubleVerify in a research report on Friday, June 14th. Barclays cut their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $28.00 target price on shares of DoubleVerify in a research report on Friday. Macquarie reiterated an “outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. 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 company. According to data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average target price of $31.53.

DoubleVerify Trading Down 1.9 %

NYSE:DV opened at $17.09 on Tuesday. The company has a market capitalization of $2.94 billion, a P/E ratio of 44.97, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The firm has a 50-day moving average price of $19.36 and a two-hundred day moving average price of $23.48. DoubleVerify has a twelve month low of $16.93 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $155.89 million during the quarter, compared to analysts’ expectations of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. On average, equities research analysts predict that DoubleVerify will post 0.3 earnings per share for the current year.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at approximately $1,488,294.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 5,292 shares of company stock valued at $104,835. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after acquiring an additional 216,370 shares in the last quarter. Capital World Investors raised its position in shares of DoubleVerify by 6.0% during the 4th quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after acquiring an additional 301,011 shares in the last quarter. Congress Asset Management Co. MA lifted its stake in DoubleVerify by 813.2% during the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after purchasing an additional 3,577,575 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in DoubleVerify in the second quarter worth $73,268,000. Finally, Bank of New York Mellon Corp increased its stake in DoubleVerify by 0.8% during 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 purchasing an additional 31,000 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.