DoubleVerify (NYSE:DV) Price Target Cut to $33.00 by Analysts at JMP Securities

DoubleVerify (NYSE:DV) had its price target cut by JMP Securities from $34.00 to $33.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Barclays decreased their price target on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. The Goldman Sachs Group dropped their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a report on Tuesday, September 17th. Macquarie lowered their target price on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler reduced their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.65.

DoubleVerify Price Performance

Shares of NYSE:DV opened at $16.21 on Wednesday. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 42.66, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The company’s 50 day simple moving average is $17.93 and its 200 day simple moving average is $20.60.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company had revenue of $155.89 million during the quarter, compared to analysts’ expectations of $153.78 million. During the same quarter in the previous year, the firm earned $0.07 EPS. DoubleVerify’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that DoubleVerify will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $17.21, for a total value of $30,358.44. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,404,301.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 7,056 shares of company stock valued at $124,644 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in DoubleVerify by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after buying an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after buying an additional 360,445 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares during the period. Burgundy Asset Management Ltd. purchased a new stake in shares of DoubleVerify during the 2nd quarter valued at $54,099,000. Finally, Geneva Capital Management LLC boosted its holdings in shares of DoubleVerify by 44.9% in the 1st quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock worth $96,581,000 after buying an additional 851,346 shares during the last quarter. 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.