DoubleVerify (NYSE:DV) Issues Quarterly Earnings Results

DoubleVerify (NYSE:DV) announced its earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11, FiscalAI reports. DoubleVerify had a net margin of 7.16% and a return on equity of 7.98%. The company had revenue of $193.79 million during the quarter, compared to analysts’ expectations of $202.23 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year.

DoubleVerify Trading Down 2.0%

Shares of DoubleVerify stock traded down $0.24 during trading hours on Thursday, reaching $11.74. The stock had a trading volume of 4,493,402 shares, compared to its average volume of 1,920,467. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 1.44 and a beta of 0.98. DoubleVerify has a 1 year low of $7.64 and a 1 year high of $16.44. The firm has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $10.41.

Institutional Investors Weigh In On DoubleVerify

A number of large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in shares of DoubleVerify by 154.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company’s stock valued at $28,000 after buying an additional 1,492 shares during the period. UMB Bank n.a. increased its stake in shares of DoubleVerify by 124.3% in the fourth quarter. UMB Bank n.a. now owns 2,757 shares of the company’s stock worth $32,000 after buying an additional 1,528 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in DoubleVerify by 253.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,709 shares of the company’s stock valued at $56,000 after acquiring an additional 2,660 shares in the last quarter. Wells Fargo & Company MN raised its holdings in DoubleVerify by 93.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,248 shares of the company’s stock valued at $60,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Quarry LP boosted its stake in DoubleVerify by 65.6% during the 3rd quarter. Quarry LP now owns 5,472 shares of the company’s stock valued at $66,000 after acquiring an additional 2,167 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DV shares. Wall Street Zen cut shares of DoubleVerify from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. The Goldman Sachs Group upped their target price on DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company lowered their target price on DoubleVerify from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Scotiabank downgraded DoubleVerify from an “outperform” rating to a “sector perform” rating and set a $13.60 price target for the company. in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a report on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.50.

DoubleVerify Company Profile

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.