BMO Capital Markets Lowers DoubleVerify (NYSE:DV) Price Target to $38.00

DoubleVerify (NYSE:DV) had its price objective decreased by equities researchers at BMO Capital Markets from $42.00 to $38.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 103.97% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DV. Bank of America cut DoubleVerify from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $45.00 to $18.00 in a research note on Thursday. Needham & Company LLC cut their price target on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays lowered their price objective on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler cut their target price on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity Group dropped their price objective on DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.05.

DoubleVerify Stock Down 0.8 %

Shares of DV traded down $0.15 on Thursday, hitting $18.63. The company’s stock had a trading volume of 3,795,706 shares, compared to its average volume of 2,056,122. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 3.24 and a beta of 1.11. The firm’s fifty day moving average price is $31.65 and its 200-day moving average price is $34.25. DoubleVerify has a fifty-two week low of $17.74 and a fifty-two week high of $43.00.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, equities analysts predict that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at approximately $2,253,705.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the transaction, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The disclosure for this sale can be found here. Insiders have sold 91,531 shares of company stock valued at $3,043,004 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of DoubleVerify by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock valued at $570,494,000 after purchasing an additional 2,017,687 shares in the last quarter. Capital World Investors boosted its position in DoubleVerify by 6.0% during the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after buying an additional 301,011 shares during the period. Congress Asset Management Co. MA grew its stake in shares of DoubleVerify by 813.2% during the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after buying an additional 3,577,575 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of DoubleVerify by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 3,713,684 shares of the company’s stock valued at $130,573,000 after acquiring an additional 31,000 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in DoubleVerify by 44.9% during the 1st quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock valued at $96,581,000 after acquiring an additional 851,346 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

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.