Scotiabank Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price objective reduced by research analysts at Scotiabank from $24.00 to $16.00 in a report issued on Monday, MarketBeat reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 47.19% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of DoubleVerify from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Wells Fargo & Company decreased their price objective on shares of DoubleVerify from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d+)” rating on shares of DoubleVerify in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of DoubleVerify from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Morgan Stanley lowered their price objective on DoubleVerify from $18.00 to $16.50 and set an “equal weight” rating for the company in a report on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.38.

DoubleVerify Trading Up 4.7%

DV opened at $10.87 on Monday. The firm’s 50 day moving average is $12.05 and its 200-day moving average is $13.85. DoubleVerify has a 52-week low of $7.64 and a 52-week high of $23.11. The company has a quick ratio of 4.41, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.75 billion, a P/E ratio of 43.48, a P/E/G ratio of 1.59 and a beta of 0.98.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.13. DoubleVerify had a net margin of 6.10% and a return on equity of 6.59%. The company had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $190.43 million. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. DoubleVerify has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts expect that DoubleVerify will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew E. Grimmig sold 4,096 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $12.99, for a total transaction of $53,207.04. Following the completion of the transaction, the insider owned 96,301 shares of the company’s stock, valued at approximately $1,250,949.99. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lucy Stamell Dobrin sold 6,392 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $14.51, for a total transaction of $92,747.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,488 shares of company stock worth $157,255 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC bought a new position in DoubleVerify in the 2nd quarter worth about $38,325,000. SG Capital Management LLC acquired a new stake in DoubleVerify in the 2nd quarter valued at approximately $33,642,000. Sunriver Management LLC bought a new stake in DoubleVerify during the 1st quarter valued at $22,485,000. Federated Hermes Inc. raised its stake in DoubleVerify by 17,284.0% during the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company’s stock valued at $22,245,000 after acquiring an additional 1,654,250 shares in the last quarter. Finally, Norges Bank acquired a new position in DoubleVerify during the 2nd quarter worth $23,640,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.