DoubleVerify (NYSE:DV) Issues Earnings Results

DoubleVerify (NYSE:DV) issued its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01, Briefing.com reports. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The business had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis.

DoubleVerify Stock Performance

Shares of NYSE:DV traded down $12.23 during mid-day trading on Wednesday, hitting $18.34. 14,052,155 shares of the company traded hands, compared to its average volume of 1,963,585. The firm’s 50 day simple moving average is $32.06 and its 200 day simple moving average is $34.35. DoubleVerify has a 52-week low of $17.74 and a 52-week high of $43.00. The firm has a market cap of $3.15 billion, a P/E ratio of 44.61, a PEG ratio of 3.24 and a beta of 1.11.

Insider Activity

In related news, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the completion of the transaction, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $33.45, for a total transaction of $177,017.40. Following the sale, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,442,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the completion of the transaction, the insider now directly owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,531 shares of company stock worth $3,043,004. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on DV. Bank of America cut their price target on shares of DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Robert W. Baird cut their target price on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. JMP Securities decreased their price target on shares of DoubleVerify from $45.00 to $40.00 and set a “market outperform” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reduced their target price on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company dropped their target price on DoubleVerify from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $38.79.

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.