DoubleVerify (NYSE:DV) Shares Up 7% – Time to Buy?

DoubleVerify Holdings, Inc. (NYSE:DV) shares rose 7% during mid-day trading on Friday . The company traded as high as $10.65 and last traded at $10.6420. Approximately 448,930 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,775,388 shares. The stock had previously closed at $9.95.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a research report on Monday, April 20th. Wells Fargo & Company reduced their price objective on shares of DoubleVerify from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 12th. The Goldman Sachs Group raised their price objective on shares of DoubleVerify from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $14.00 price target on shares of DoubleVerify in a research report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.70.

DoubleVerify Stock Performance

The company’s fifty day moving average price is $10.27 and its 200 day moving average price is $10.35. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently bought and sold shares of DV. Vanguard Group Inc. raised its position in shares of DoubleVerify by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,776,618 shares of the company’s stock worth $169,045,000 after purchasing an additional 360,055 shares during the period. Mackenzie Financial Corp boosted its position in DoubleVerify by 1.3% during the 4th quarter. Mackenzie Financial Corp now owns 5,662,133 shares of the company’s stock valued at $64,986,000 after purchasing an additional 74,051 shares during the period. AQR Capital Management LLC boosted its position in DoubleVerify by 123.4% during the 4th quarter. AQR Capital Management LLC now owns 5,254,565 shares of the company’s stock valued at $60,112,000 after purchasing an additional 2,902,169 shares during the period. Dimensional Fund Advisors LP grew its stake in DoubleVerify by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,333,555 shares of the company’s stock worth $41,169,000 after buying an additional 363,005 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in DoubleVerify by 2,028.9% during the 4th quarter. Bank of Montreal Can now owns 3,649,995 shares of the company’s stock worth $41,756,000 after buying an additional 3,478,542 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About DoubleVerify

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.