DoubleVerify (NYSE:DV) Given New $39.00 Price Target at KeyCorp

DoubleVerify (NYSE:DV) had its price objective cut by KeyCorp from $45.00 to $39.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the stock. KeyCorp also issued estimates for DoubleVerify’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.07 EPS and Q4 2024 earnings at $0.17 EPS.

Other equities research analysts have also issued research reports about the company. JMP Securities dropped their price target on DoubleVerify from $45.00 to $40.00 and set a market outperform rating for the company in a research note on Thursday, February 29th. Bank of America dropped their price target on DoubleVerify from $47.00 to $45.00 and set a buy rating for the company in a research note on Thursday, February 29th. Robert W. Baird lifted their price target on DoubleVerify from $38.00 to $44.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Wells Fargo & Company lowered their target price on DoubleVerify from $44.00 to $41.00 and set an overweight rating for the company in a research note on Friday, March 1st. Finally, Royal Bank of Canada boosted their target price on DoubleVerify from $40.00 to $49.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $35.05.

DoubleVerify Stock Up 0.3 %

DoubleVerify stock opened at $18.84 on Monday. DoubleVerify has a 52 week low of $17.74 and a 52 week high of $43.00. The business has a 50-day simple moving average of $31.41 and a 200 day simple moving average of $34.14. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping 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 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 business earned $0.07 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other DoubleVerify news, insider Andrew E. Grimmig sold 16,667 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $33.80, for a total transaction of $563,344.60. Following the transaction, the insider now owns 39,468 shares in the company, valued at approximately $1,334,018.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Andrew E. Grimmig sold 16,667 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $33.80, for a total value of $563,344.60. Following the sale, the insider now owns 39,468 shares in the company, valued at approximately $1,334,018.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew E. Grimmig sold 50,924 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 in the company, valued at approximately $1,322,572.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,431 shares of company stock worth $3,070,904. Company insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC purchased a new stake in DoubleVerify during the 4th quarter valued at $962,000. Envestnet Asset Management Inc. boosted its stake in DoubleVerify by 40.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after purchasing an additional 55,322 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in DoubleVerify by 135.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock valued at $1,625,000 after purchasing an additional 33,499 shares during the last quarter. California Public Employees Retirement System boosted its stake in DoubleVerify by 24.7% during the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock valued at $8,178,000 after purchasing an additional 44,106 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in DoubleVerify during the 4th quarter valued at $1,590,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.