DoubleVerify Holdings, Inc. (NYSE:DV) Sees Significant Growth in Short Interest

DoubleVerify Holdings, Inc. (NYSE:DV) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 7,620,000 shares, an increase of 49.1% from the August 31st total of 5,110,000 shares. Approximately 5.3% of the shares of the stock are short sold. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is currently 3.2 days.

DoubleVerify Stock Performance

DoubleVerify stock traded down $0.10 during midday trading on Friday, reaching $17.17. 2,423,476 shares of the company’s stock were exchanged, compared to its average volume of 2,379,065. The stock’s 50-day simple moving average is $18.93 and its 200 day simple moving average is $22.82. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 44.87, a P/E/G ratio of 2.32 and a beta of 0.92. DoubleVerify has a 52 week low of $16.81 and a 52 week high of $43.00.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DV. Truist Financial decreased their target price on DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley increased 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. Macquarie reissued an “outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of DoubleVerify in a report on Friday, June 14th. One 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. According to MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $31.18.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,292 shares of company stock valued at $104,835 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. bought a new position in shares of DoubleVerify during the first quarter worth approximately $28,000. RiverPark Advisors LLC acquired a new position in DoubleVerify in the 1st quarter valued at $54,000. CWM LLC increased its position 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 buying an additional 1,900 shares during the period. Fifth Third Bancorp lifted its holdings in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after buying an additional 1,742 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of DoubleVerify by 37.6% in the second quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock valued at $129,000 after acquiring an additional 1,806 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.