DoubleVerify (NYSE:DV) Cut to Hold at Zacks Research

Zacks Research cut shares of DoubleVerify (NYSE:DV) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Several other research firms have also commented on DV. Barclays reiterated an “equal weight” rating and issued a $12.00 price target on shares of DoubleVerify in a research report on Monday, January 12th. Wells Fargo & Company lowered their target price on DoubleVerify from $13.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. Needham & Company LLC cut their price target on DoubleVerify from $18.00 to $12.00 and set a “buy” rating for the company in a report on Monday, November 10th. Scotiabank reaffirmed an “outperform” rating on shares of DoubleVerify in a research note on Monday, November 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $13.50 price objective on shares of DoubleVerify in a research report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.41.

DoubleVerify Stock Performance

Shares of DV stock opened at $10.80 on Wednesday. The stock has a fifty day moving average price of $10.96 and a 200 day moving average price of $12.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.98 and a current ratio of 3.98. The stock has a market cap of $1.74 billion, a PE ratio of 43.20, a P/E/G ratio of 0.73 and a beta of 0.98. DoubleVerify has a 1 year low of $7.64 and a 1 year high of $23.11.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results 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 return on equity of 6.59% and a net margin of 6.10%.The business had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $190.43 million. During the same quarter last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Sell-side analysts forecast that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its holdings in DoubleVerify by 52.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 209,607 shares of the company’s stock valued at $2,398,000 after purchasing an additional 72,466 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of DoubleVerify in the fourth quarter valued at about $150,000. Vanguard Group Inc. raised its holdings in shares of DoubleVerify by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,776,618 shares of the company’s stock valued at $169,045,000 after buying an additional 360,055 shares during the period. Ruffer LLP acquired a new position in DoubleVerify during the 4th quarter worth approximately $7,399,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in DoubleVerify by 257.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 94,602 shares of the company’s stock worth $1,085,000 after acquiring an additional 68,162 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.