DoubleVerify (NYSE:DV) PT Lowered to $40.00

DoubleVerify (NYSE:DV) had its target price decreased by stock analysts at Piper Sandler from $45.00 to $40.00 in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 38.31% from the company’s current price.

Other research analysts have also issued reports about the company. Robert W. Baird began coverage on DoubleVerify in a report on Friday, August 18th. They issued an “outperform” rating and a $38.00 target price for the company. Truist Financial lifted their price objective on DoubleVerify from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of DoubleVerify in a research note on Tuesday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of DoubleVerify in a research note on Tuesday, August 1st. Finally, Loop Capital lifted their price objective on shares of DoubleVerify from $35.00 to $50.00 in a research report on Thursday, July 27th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.60.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $28.92 on Friday. The business has a 50-day moving average of $35.06 and a 200 day moving average of $32.65. DoubleVerify has a 12 month low of $20.38 and a 12 month high of $42.51. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 96.40 and a beta of 0.94.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. DoubleVerify had a net margin of 10.64% and a return on equity of 6.01%. The business had revenue of $133.74 million during the quarter, compared to analyst estimates of $133.39 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current year.

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 9,231 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $28.86, for a total value of $266,406.66. Following the completion of the sale, the chief financial officer now owns 59,674 shares in the company, valued at $1,722,191.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Nicola T. Allais sold 9,231 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $28.86, for a total value of $266,406.66. Following the completion of the sale, the chief financial officer now directly owns 59,674 shares of the company’s stock, valued at $1,722,191.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Julie Eddleman sold 750 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $37.99, for a total transaction of $28,492.50. Following the completion of the sale, the insider now directly owns 130,871 shares of the company’s stock, valued at $4,971,789.29. The disclosure for this sale can be found here. In the last three months, insiders sold 25,191,350 shares of company stock valued at $819,263,084. Insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in DoubleVerify by 54.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,242 shares of the company’s stock valued at $131,000 after buying an additional 1,838 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of DoubleVerify by 62.2% in the first quarter. JPMorgan Chase & Co. now owns 16,636 shares of the company’s stock valued at $419,000 after acquiring an additional 6,381 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of DoubleVerify by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 131,348 shares of the company’s stock worth $3,308,000 after acquiring an additional 2,682 shares during the period. US Bancorp DE raised its holdings in DoubleVerify by 210.8% during the first quarter. US Bancorp DE now owns 12,064 shares of the company’s stock worth $303,000 after purchasing an additional 8,182 shares in the last quarter. Finally, Citigroup Inc. lifted its position in DoubleVerify by 130.3% in the first quarter. Citigroup Inc. now owns 6,012 shares of the company’s stock valued at $151,000 after purchasing an additional 3,401 shares during the period. 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 analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.