DoubleVerify (NYSE:DV) Reaches New 1-Year Low at $16.77

DoubleVerify Holdings, Inc. (NYSE:DV) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.77 and last traded at $16.80, with a volume of 1719488 shares changing hands. The stock had previously closed at $17.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research report on Friday, June 14th. Morgan Stanley lifted their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Macquarie reissued an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a report on Wednesday, July 31st. The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price target on shares of DoubleVerify in a research report on Friday, September 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.18.

DoubleVerify Trading Down 1.9 %

The business’s 50-day simple moving average is $18.87 and its two-hundred day simple moving average is $22.58. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 44.32, a P/E/G ratio of 2.32 and a beta of 0.92.

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

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total transaction of $35,315.28. Following the transaction, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at $1,547,826.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 5,292 shares of company stock valued at $104,835. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently modified their holdings of DV. Point72 DIFC Ltd bought a new position in shares of DoubleVerify in the second quarter valued at $155,000. Cim LLC raised its stake in shares of DoubleVerify by 74.8% in the second quarter. Cim LLC now owns 48,533 shares of the company’s stock worth $926,000 after purchasing an additional 20,770 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of DoubleVerify by 17.6% in the second quarter. Cetera Investment Advisers now owns 148,396 shares of the company’s stock valued at $2,889,000 after purchasing an additional 22,244 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of DoubleVerify during the second quarter valued at approximately $230,000. Finally, Silver Lake Advisory LLC bought a new stake in DoubleVerify during the second quarter worth $202,000. 97.29% of the stock is currently owned by institutional investors.

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.