DoubleVerify (NYSE:DV) PT Lowered to $40.00

DoubleVerify (NYSE:DV) had its target price dropped by investment analysts at Royal Bank of Canada from $49.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 112.31% from the company’s previous close.

A number of other brokerages have also issued reports on DV. Robert W. Baird reduced their target price on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Needham & Company LLC decreased their price objective on DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities dropped their target price on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus decreased their price target on DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $42.00 price objective (down from $44.00) on shares of DoubleVerify in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.05.

DoubleVerify Stock Up 0.3 %

DV stock opened at $18.84 on Wednesday. The company has a market cap of $3.24 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. The business’s 50-day simple moving average is $31.41 and its 200 day simple moving average is $34.14. DoubleVerify has a twelve month low of $17.74 and a twelve month high of $43.00.

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

Insider Transactions at DoubleVerify

In other news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now directly owns 137,668 shares in the company, valued at $4,171,340.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Andrew E. Grimmig sold 50,924 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was 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 $4,171,340.40. The disclosure for this sale can be found here. Insiders sold 92,431 shares of company stock valued at $3,070,904 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Hedge funds and other institutional investors have recently modified their holdings of the stock. Motley Fool Asset Management LLC acquired a new position in DoubleVerify during the fourth quarter worth approximately $962,000. Envestnet Asset Management Inc. raised its stake in DoubleVerify by 40.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after acquiring an additional 55,322 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings 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 position in DoubleVerify by 24.7% during the fourth quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock worth $8,178,000 after purchasing an additional 44,106 shares during the period. Finally, Moody National Bank Trust Division acquired a new position in shares of DoubleVerify in the fourth quarter valued at $1,590,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.