Wells Fargo & Company Raises DoubleVerify (NYSE:DV) Price Target to $9.00

DoubleVerify (NYSE:DV) had its price objective lifted by equities researchers at Wells Fargo & Company from $8.00 to $9.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 11.33% from the stock’s current price.

A number of other brokerages have also recently weighed in on DV. Needham & Company LLC decreased their price objective on DoubleVerify from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Canaccord Genuity Group decreased their price target on shares of DoubleVerify from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Truist Financial cut their price objective on shares of DoubleVerify from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Barclays reiterated an “equal weight” rating and set a $12.00 price objective on shares of DoubleVerify in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a research report on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $15.88.

DoubleVerify Stock Performance

Shares of DV opened at $10.15 on Monday. The company has a 50 day moving average price of $10.41 and a 200-day moving average price of $11.54. DoubleVerify has a fifty-two week low of $7.64 and a fifty-two week high of $16.82. The stock has a market capitalization of $1.64 billion, a PE ratio of 33.83, a PEG ratio of 0.93 and a beta of 0.98.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $205.59 million during the quarter, compared to the consensus estimate of $208.77 million. DoubleVerify had a return on equity of 7.50% and a net margin of 6.77%.The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Equities research analysts forecast that DoubleVerify will post 0.36 EPS for the current year.

Hedge Funds Weigh In On DoubleVerify

Several hedge funds have recently made changes to their positions in DV. Clearstead Advisors LLC lifted its position in DoubleVerify by 210.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,055 shares of the company’s stock worth $25,000 after acquiring an additional 1,392 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of DoubleVerify by 154.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company’s stock valued at $28,000 after purchasing an additional 1,492 shares during the period. UMB Bank n.a. raised its stake in shares of DoubleVerify by 124.3% in the fourth quarter. UMB Bank n.a. now owns 2,757 shares of the company’s stock worth $32,000 after purchasing an additional 1,528 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of DoubleVerify during the second quarter worth about $42,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of DoubleVerify by 178.9% during the third quarter. Hantz Financial Services Inc. now owns 3,447 shares of the company’s stock worth $41,000 after purchasing an additional 2,211 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

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.