DoubleVerify (NYSE:DV) Stock Price Down 6.2% After Earnings Miss

DoubleVerify Holdings, Inc. (NYSE:DV) shares traded down 6.2% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $13.24 and last traded at $13.25. 3,134,045 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 2,385,449 shares. The stock had previously closed at $14.13.

The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). DoubleVerify had a return on equity of 5.99% and a net margin of 10.33%. The company had revenue of $165.06 million during the quarter, compared to the consensus estimate of $153.07 million. During the same period last year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year.

Analysts Set New Price Targets

DV has been the topic of several recent research reports. Loop Capital downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating and dropped their price objective for the company from $24.00 to $16.00 in a report on Tuesday, March 4th. Barclays cut their price objective on shares of DoubleVerify from $24.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Baird R W cut shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Friday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of DoubleVerify in a report on Wednesday, April 16th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $14.00 price objective (down from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.31.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently modified their holdings of DV. Geneva Capital Management LLC boosted its stake in shares of DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after purchasing an additional 19,684 shares in the last quarter. Norges Bank purchased a new position in shares of DoubleVerify in the fourth quarter worth $33,957,000. JPMorgan Chase & Co. lifted its stake in DoubleVerify by 9.8% during the 4th quarter. JPMorgan Chase & Co. now owns 708,429 shares of the company’s stock valued at $13,609,000 after acquiring an additional 63,196 shares during the period. Charles Schwab Investment Management Inc. grew its position in DoubleVerify by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 973,147 shares of the company’s stock worth $18,694,000 after purchasing an additional 71,000 shares during the period. Finally, Principal Financial Group Inc. raised its stake in DoubleVerify by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after buying an additional 94,095 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

The stock has a market capitalization of $2.16 billion, a P/E ratio of 36.00, a PEG ratio of 2.63 and a beta of 1.03. The firm has a fifty day moving average price of $13.46 and a two-hundred day moving average price of $17.69.

DoubleVerify Company Profile

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.