DoubleVerify (NYSE:DV) Price Target Cut to $21.00

DoubleVerify (NYSE:DV) had its target price decreased by stock analysts at Piper Sandler from $30.00 to $21.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 27.00% from the stock’s previous close.

DV has been the topic of a number of other reports. Morgan Stanley increased their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Barclays decreased their price objective on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Stifel Nicolaus reduced their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Truist Financial decreased their target price on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $29.71.

DoubleVerify Stock Down 5.1 %

Shares of DoubleVerify stock opened at $16.54 on Wednesday. The company has a 50 day moving average price of $17.96 and a 200 day moving average price of $20.71. The firm has a market capitalization of $2.84 billion, a P/E ratio of 43.51, a PEG ratio of 2.21 and a beta of 0.90. DoubleVerify has a 52 week low of $16.38 and a 52 week high of $43.00.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at $1,380,638.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 7,056 shares of company stock worth $124,644 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DV. Assenagon Asset Management S.A. purchased a new position in shares of DoubleVerify in the second quarter worth about $73,268,000. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify in the 2nd quarter worth approximately $54,099,000. Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify in the second quarter valued at approximately $53,015,000. Jericho Capital Asset Management L.P. purchased a new position in DoubleVerify during the first quarter worth approximately $53,584,000. Finally, Capital International Investors boosted its stake in DoubleVerify by 104.7% during the first quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock worth $59,117,000 after buying an additional 859,922 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.