DoubleVerify (NYSE:DV) Hits New 12-Month Low on Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV) shares reached a new 52-week low during mid-day trading on Wednesday after JMP Securities lowered their price target on the stock from $34.00 to $33.00. JMP Securities currently has a market outperform rating on the stock. DoubleVerify traded as low as $16.37 and last traded at $16.40, with a volume of 54395 shares trading hands. The stock had previously closed at $16.55.

A number of other analysts have also recently issued reports on DV. The Goldman Sachs Group cut their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Macquarie dropped their price target on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Barclays dropped their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Stifel Nicolaus dropped their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.65.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Monday, August 5th. The stock was sold at an average price of $19.25, for a total value of $33,957.00. Following the transaction, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,488,294.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 7,056 shares of company stock worth $124,644. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently bought and sold shares of DV. PNC Financial Services Group Inc. grew its position in DoubleVerify by 15.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,019 shares of the company’s stock worth $589,000 after acquiring an additional 2,120 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in DoubleVerify during the 1st quarter worth $16,625,000. First Dallas Securities Inc. acquired a new position in DoubleVerify during the 1st quarter worth about $620,000. Park Place Capital Corp lifted its holdings in DoubleVerify by 153.5% during 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 period. Finally, Congress Wealth Management LLC DE lifted its holdings in DoubleVerify by 3,974.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 457,779 shares of the company’s stock worth $16,096,000 after buying an additional 446,544 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 42.66, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a fifty day simple moving average of $17.93 and a 200 day simple moving average of $20.60.

DoubleVerify (NYSE:DV) last announced its earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $155.89 million for the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, equities analysts predict that DoubleVerify Holdings, Inc. will post 0.3 earnings per share for the current fiscal year.

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.