DoubleVerify (NYSE:DV) Coverage Initiated by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company initiated coverage on shares of DoubleVerify (NYSE:DV) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an “underweight” rating and a $14.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 19.05% from the stock’s current price.

Other analysts have also issued reports about the stock. JMP Securities reduced their price target on shares of DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a research report on Tuesday, September 17th. Stifel Nicolaus cut their price objective on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Truist Financial dropped their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.47.

DoubleVerify Stock Performance

NYSE:DV opened at $17.30 on Monday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 2.21 and a beta of 0.90. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00. The business has a fifty day moving average of $17.73 and a 200-day moving average of $20.03.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, equities research analysts predict that DoubleVerify will post 0.3 EPS for the current year.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,339,023.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 8,820 shares of company stock valued at $153,591. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently modified their holdings of DV. United Services Automobile Association grew its position in DoubleVerify by 7.4% in the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after acquiring an additional 746 shares in the last quarter. Whittier Trust Co. acquired a new stake in DoubleVerify in the 1st quarter worth approximately $28,000. Arizona State Retirement System boosted its position in DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after purchasing an additional 927 shares during the period. Gagnon Securities LLC grew its holdings in DoubleVerify by 1.2% during the first quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after purchasing an additional 1,045 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of DoubleVerify by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after purchasing an additional 1,218 shares during the period. 97.29% of the stock is currently owned by hedge funds and other 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.