DoubleVerify (NYSE:DV) Reaches New 1-Year Low at $17.14

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $17.14 and last traded at $17.20, with a volume of 136197 shares trading hands. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DV. The Goldman Sachs Group reiterated a “buy” rating and issued a $28.00 price objective on shares of DoubleVerify in a report on Friday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a research note on Tuesday. Truist Financial reduced their price objective on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley increased their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Barclays decreased their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.18.

DoubleVerify Price Performance

The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The firm’s 50-day moving average is $19.31 and its 200 day moving average is $23.38.

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

Insider Activity at DoubleVerify

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. Over the last quarter, insiders have sold 5,292 shares of company stock worth $104,835. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently bought and sold shares of DV. Oppenheimer Asset Management Inc. boosted its holdings in DoubleVerify by 62.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock valued at $4,163,000 after purchasing an additional 45,689 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of 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 buying an additional 3,577,575 shares in the last quarter. Norden Group LLC bought a new stake in shares of DoubleVerify in the first quarter worth $15,297,000. Ranger Investment Management L.P. raised its holdings in DoubleVerify by 26.6% in the fourth quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock valued at $33,371,000 after acquiring an additional 190,786 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after acquiring an additional 216,370 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.