DoubleVerify (NYSE:DV) Sets New 12-Month Low on Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV) hit a new 52-week low during trading on Wednesday after Robert W. Baird lowered their price target on the stock from $42.00 to $34.00. Robert W. Baird currently has an outperform rating on the stock. DoubleVerify traded as low as $18.95 and last traded at $18.95, with a volume of 895023 shares changing hands. The stock had previously closed at $30.57.

A number of other brokerages have also issued reports on DV. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Bank of America dropped their target price on shares of DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Macquarie raised DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Monday, March 11th. Barclays cut their price target on shares of DoubleVerify from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 price objective (down previously from $44.00) on shares of DoubleVerify in a research note on Friday, March 1st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.78.

Insider Buying and Selling

In other DoubleVerify news, insider Andrew E. Grimmig sold 50,924 shares of DoubleVerify stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at $1,322,572.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew E. Grimmig sold 50,924 shares of DoubleVerify stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.51, for a total value of $1,706,463.24. Following the completion of the sale, the insider now owns 39,468 shares of the company’s stock, valued at approximately $1,322,572.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,531 shares of company stock valued at $3,043,004. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in shares of DoubleVerify in the first quarter valued at approximately $28,000. Guinness Atkinson Asset Management Inc acquired a new position in shares of DoubleVerify during the 3rd quarter worth about $34,000. Signaturefd LLC raised its stake in DoubleVerify by 84.7% during the 4th 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 last quarter. Huntington National Bank increased its stake in DoubleVerify by 41.6% during the third quarter. Huntington National Bank now owns 1,495 shares of the company’s stock valued at $42,000 after acquiring an additional 439 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in DoubleVerify during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

The company has a market capitalization of $3.06 billion, a P/E ratio of 74.56, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. The firm has a 50 day moving average price of $32.06 and a two-hundred day moving average price of $34.35.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The firm had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current year.

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.