DoubleVerify (NYSE:DV) Rating Reiterated by Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $33.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 90.86% from the company’s current price.

Several other equities analysts have also issued reports on DV. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research note on Friday, June 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of DoubleVerify in a research note on Friday, September 13th. Macquarie reiterated an “outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Wednesday, July 31st. Barclays cut their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and a consensus price target of $31.18.

DoubleVerify Price Performance

NYSE DV opened at $17.29 on Tuesday. The company’s fifty day moving average is $19.25 and its two-hundred day moving average is $23.34. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 45.50, a P/E/G ratio of 2.40 and a beta of 0.92. DoubleVerify has a 52-week low of $16.93 and a 52-week high of $43.00.

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

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total value of $35,562.24. Following the transaction, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at $1,558,650.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 5,292 shares of company stock valued at $104,835 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently added to or reduced their stakes in DV. Whittier Trust Co. acquired a new stake in shares of DoubleVerify during the first quarter valued at about $28,000. Quadrant Capital Group LLC raised its holdings in DoubleVerify by 65.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after buying an additional 587 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in DoubleVerify during the 1st quarter worth approximately $54,000. CWM LLC grew its holdings in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Park Place Capital Corp increased its position in DoubleVerify by 153.5% in the 1st quarter. Park Place Capital Corp now owns 4,021 shares of the company’s stock valued at $141,000 after acquiring an additional 2,435 shares during the period. Institutional investors own 97.29% of the company’s stock.

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.