DoubleVerify (NYSE:DV) Stock Rating Reaffirmed by Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $45.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 55.60% from the company’s previous close.

Several other equities research analysts have also recently weighed in on DV. Loop Capital raised their price objective on shares of DoubleVerify from $35.00 to $50.00 in a research report on Thursday, July 27th. Barclays raised their price objective on shares of DoubleVerify from $34.00 to $47.00 in a research report on Wednesday, July 19th. Stephens restated an “overweight” rating and issued a $47.00 price objective on shares of DoubleVerify in a research report on Tuesday, August 1st. Wells Fargo & Company started coverage on shares of DoubleVerify in a research report on Tuesday, June 27th. They set an “overweight” rating and a $44.00 price target for the company. Finally, Truist Financial lifted their price target on shares of DoubleVerify from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.60.

DoubleVerify Price Performance

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

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

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 9,231 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $37.71, for a total transaction of $348,101.01. Following the completion of the transaction, the chief financial officer now owns 59,674 shares in the company, valued at $2,250,306.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other DoubleVerify news, Director Laura Desmond sold 11,003 shares of DoubleVerify stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $30.75, for a total value of $338,342.25. Following the transaction, the director now owns 179,071 shares of the company’s stock, valued at $5,506,433.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nicola T. Allais sold 9,231 shares of DoubleVerify stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $37.71, for a total transaction of $348,101.01. Following the completion of the transaction, the chief financial officer now directly owns 59,674 shares in the company, valued at approximately $2,250,306.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,191,350 shares of company stock worth $819,263,084. 3.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new stake in shares of DoubleVerify in the second quarter worth $26,000. Assetmark Inc. lifted its position in shares of DoubleVerify by 102.7% in the fourth quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $28,000 after purchasing an additional 645 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of DoubleVerify in the second quarter worth $40,000. Huntington National Bank lifted its position in shares of DoubleVerify by 241.7% in the second quarter. Huntington National Bank now owns 1,056 shares of the company’s stock worth $41,000 after purchasing an additional 747 shares in the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of DoubleVerify in the second quarter worth $42,000. 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.