Needham & Company LLC Reiterates Buy Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $18.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 24.31% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Cannonball Research cut shares of DoubleVerify to a “neutral” rating in a research report on Sunday, March 2nd. Raymond James reduced their price objective on shares of DoubleVerify from $22.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reduced their price objective on shares of DoubleVerify from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of DoubleVerify from $18.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Canaccord Genuity Group reduced their price objective on shares of DoubleVerify from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

DoubleVerify Trading Down 2.9%

NYSE:DV opened at $14.48 on Thursday. DoubleVerify has a 1-year low of $11.52 and a 1-year high of $23.11. The firm has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $16.89. The stock has a market capitalization of $2.35 billion, a PE ratio of 39.14, a P/E/G ratio of 2.63 and a beta of 1.03.

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

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in DoubleVerify by 168.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock valued at $30,000 after purchasing an additional 981 shares in the last quarter. Signaturefd LLC raised its stake in DoubleVerify by 582.9% in the first quarter. Signaturefd LLC now owns 2,322 shares of the company’s stock valued at $31,000 after purchasing an additional 1,982 shares in the last quarter. Quadrant Capital Group LLC raised its stake in DoubleVerify by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares in the last quarter. Versant Capital Management Inc acquired a new position in DoubleVerify in the first quarter valued at about $40,000. Finally, Allianz SE acquired a new position in DoubleVerify in the fourth quarter valued at about $41,000. Institutional investors 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.