DoubleVerify (NYSE:DV) Price Target Cut to $22.00

DoubleVerify (NYSE:DV) had its target price lowered by stock analysts at Stifel Nicolaus from $25.00 to $22.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 26.98% from the stock’s current price.

DV has been the subject of several other reports. Barclays lowered their price objective on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Truist Financial dropped their price target on DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Macquarie lowered their price objective on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price target on shares of DoubleVerify in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $30.24.

DoubleVerify Price Performance

DoubleVerify stock opened at $17.33 on Monday. The stock’s 50 day moving average is $18.07 and its 200 day moving average is $21.17. DoubleVerify has a one year low of $16.38 and a one year high of $43.00. The firm has a market cap of $2.98 billion, a P/E ratio of 45.59, a P/E/G ratio of 2.21 and a beta of 0.90.

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

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total transaction of $35,562.24. Following the transaction, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,820 shares of company stock worth $160,206 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of DoubleVerify during the first quarter valued at approximately $28,000. RiverPark Advisors LLC purchased a new stake in shares of DoubleVerify during the 1st quarter valued at $54,000. CWM LLC raised its stake in shares of DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Park Place Capital Corp boosted its holdings in shares of DoubleVerify by 153.5% in the 1st quarter. Park Place Capital Corp now owns 4,021 shares of the company’s stock worth $141,000 after buying an additional 2,435 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares during the period. 97.29% of the stock is owned by institutional investors.

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.