Wells Fargo & Company Reiterates “$13.00” Price Target for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV) has been assigned a $13.00 price objective by analysts at Wells Fargo & Company in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 11.29% from the company’s current price.

Several other research firms also recently issued reports on DV. Loop Capital lowered DoubleVerify from a “buy” rating to a “hold” rating and cut their price target for the stock from $24.00 to $16.00 in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of DoubleVerify in a research report on Thursday. Bank of America upgraded DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. Canaccord Genuity Group reduced their target price on DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group cut their target price on DoubleVerify from $20.00 to $15.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.86.

DoubleVerify Stock Up 1.1%

NYSE DV traded up $0.16 during trading on Thursday, reaching $14.66. 1,409,095 shares of the stock traded hands, compared to its average volume of 2,366,019. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 2.63 and a beta of 1.03. The stock’s 50-day moving average price is $13.57 and its 200 day moving average price is $16.85. DoubleVerify has a fifty-two week low of $11.52 and a fifty-two week high of $23.11.

DoubleVerify (NYSE:DV) last issued its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $165.06 million during the quarter, compared to the consensus estimate of $153.07 million. DoubleVerify had a net margin of 10.33% and a return on equity of 5.99%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Analysts anticipate that DoubleVerify will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of DoubleVerify by 5.6% during the first quarter. Vanguard Group Inc. now owns 18,466,076 shares of the company’s stock valued at $246,891,000 after acquiring an additional 984,779 shares during the last quarter. Mackenzie Financial Corp lifted its position in DoubleVerify by 1.6% in the first quarter. Mackenzie Financial Corp now owns 5,752,688 shares of the company’s stock valued at $76,913,000 after buying an additional 91,405 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in DoubleVerify by 6.5% during the first quarter. Burgundy Asset Management Ltd. now owns 5,225,968 shares of the company’s stock worth $69,871,000 after buying an additional 319,055 shares during the period. AQR Capital Management LLC boosted its stake in DoubleVerify by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock worth $50,002,000 after buying an additional 592,435 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of DoubleVerify by 0.8% during the fourth quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after acquiring an additional 19,684 shares during the last quarter. Institutional investors and hedge funds 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.