DoubleVerify (NYSE:DV) Rating Reiterated by Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $33.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 52.85% from the stock’s previous close.

DV has been the subject of several other research reports. Barclays lowered their target price on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Morgan Stanley upped their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. JMP Securities lowered their target price on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. William Blair downgraded shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets lowered their target price on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued 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 $33.06.

DoubleVerify Price Performance

DV opened at $21.59 on Wednesday. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 3.13 and a beta of 0.93. The firm has a 50 day simple moving average of $19.32 and a 200 day simple moving average of $28.63. DoubleVerify has a fifty-two week low of $17.50 and a fifty-two week high of $43.00.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. DoubleVerify’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, analysts expect that DoubleVerify will post 0.31 EPS for the current year.

DoubleVerify declared that its Board of Directors has approved a stock buyback program on Thursday, May 16th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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 completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoubleVerify 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 value of $35,315.28. Following the completion of the sale, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new stake in DoubleVerify in the first quarter valued at $28,000. Signaturefd LLC raised its position in shares of DoubleVerify by 84.7% in the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after purchasing an additional 498 shares during the period. GAMMA Investing LLC bought a new position in shares of DoubleVerify in the fourth quarter valued at about $42,000. RiverPark Advisors LLC bought a new position in shares of DoubleVerify in the first quarter valued at about $54,000. Finally, CWM LLC raised its position in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.