DoubleVerify (NYSE:DV) Hits New 1-Year Low on Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $40.00 to $30.00. Barclays currently has an overweight rating on the stock. DoubleVerify traded as low as $18.95 and last traded at $18.95, with a volume of 895023 shares changing hands. The stock had previously closed at $30.57.

Several other research firms have also recently commented on DV. Royal Bank of Canada dropped their target price on shares of DoubleVerify from $49.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price objective on DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group decreased their target price on DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday. Needham & Company LLC reduced their price target on DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Truist Financial decreased their price objective on DoubleVerify from $39.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Insider Activity

In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the completion of the sale, the insider now directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Nicola T. Allais sold 5,364 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.80, for a total value of $175,939.20. Following the completion of the transaction, the chief financial officer now owns 73,030 shares in the company, valued at $2,395,384. The disclosure for this sale can be found here. Insiders have sold a total of 91,531 shares of company stock valued at $3,043,004 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently made changes to their positions in the business. Motley Fool Asset Management LLC purchased a new stake in shares of DoubleVerify in the 4th quarter worth $962,000. Envestnet Asset Management Inc. raised its stake in shares of DoubleVerify by 40.2% in the third quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock worth $5,388,000 after buying an additional 55,322 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of DoubleVerify by 135.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock valued at $1,625,000 after buying an additional 33,499 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of DoubleVerify by 24.7% during the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock valued at $8,178,000 after acquiring an additional 44,106 shares during the period. Finally, Moody National Bank Trust Division purchased a new stake in DoubleVerify in the 4th quarter worth approximately $1,590,000. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Trading Down 38.6 %

The company has a market cap of $3.22 billion, a P/E ratio of 45.78, a PEG ratio of 3.24 and a beta of 1.11. The business’s 50 day simple moving average is $32.06 and its 200 day simple moving average is $34.35.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. Sell-side analysts anticipate that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

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.