DoubleVerify (NYSE:DV) Price Target Cut to $35.00 by Analysts at Canaccord Genuity Group

DoubleVerify (NYSE:DVGet Rating) had its target price lowered by equities research analysts at Canaccord Genuity Group from $40.00 to $35.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 91.47% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada decreased their target price on DoubleVerify from $35.00 to $31.00 in a research note on Monday. Needham & Company LLC decreased their target price on DoubleVerify from $41.00 to $30.00 in a research note on Friday, January 21st. Barclays decreased their target price on DoubleVerify from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 9th. JPMorgan Chase & Co. reduced their price objective on DoubleVerify from $30.00 to $26.00 in a research report on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on DoubleVerify from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $36.47.

NYSE:DV opened at $18.28 on Wednesday. DoubleVerify has a 52-week low of $17.22 and a 52-week high of $48.42. The firm has a market cap of $2.99 billion and a price-to-earnings ratio of 101.56. The business’s fifty day moving average is $23.68 and its 200 day moving average is $27.90.

DoubleVerify (NYSE:DVGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $96.72 million for the quarter, compared to analyst estimates of $89.87 million. DoubleVerify had a return on equity of 6.61% and a net margin of 8.81%. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. On average, sell-side analysts predict that DoubleVerify will post 0.23 EPS for the current fiscal year.

In other news, CEO Mark Zagorski bought 17,846 shares of the stock in a transaction dated Tuesday, March 29th. The stock was bought at an average price of $25.64 per share, for a total transaction of $457,571.44. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew E. Grimmig sold 25,648 shares of DoubleVerify stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $23.56, for a total value of $604,266.88. Following the sale, the insider now owns 41,776 shares in the company, valued at $984,242.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,648 shares of company stock valued at $1,598,067.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new stake in shares of DoubleVerify during the second quarter valued at approximately $28,000. Deutsche Bank AG raised its stake in DoubleVerify by 446.0% during the fourth quarter. Deutsche Bank AG now owns 1,163 shares of the company’s stock valued at $39,000 after buying an additional 950 shares during the last quarter. Citigroup Inc. raised its stake in DoubleVerify by 284.0% during the fourth quarter. Citigroup Inc. now owns 2,611 shares of the company’s stock valued at $87,000 after buying an additional 1,931 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in DoubleVerify by 970.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,404 shares of the company’s stock valued at $114,000 after buying an additional 3,086 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in DoubleVerify by 231.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,440 shares of the company’s stock valued at $114,000 after buying an additional 2,402 shares during the last quarter. Institutional investors own 85.08% of the company’s stock.

About DoubleVerify (Get Rating)

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, data, and analytics in the United States and internationally. Its solutions provide advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.

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