DoubleVerify (NYSE:DV) Price Target Lowered to $25.00 at The Goldman Sachs Group

DoubleVerify (NYSE:DV) had its price objective reduced by The Goldman Sachs Group from $28.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on DV. Macquarie reduced their target price on shares of DoubleVerify from $25.00 to $19.00 and set an outperform rating for the company in a research note on Friday. Morgan Stanley lifted their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a buy rating and issued a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Barclays reduced their target price on shares of DoubleVerify from $27.00 to $23.00 and set an overweight rating for the company in a research note on Friday. Finally, Truist Financial reduced their target price on shares of DoubleVerify from $32.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $30.24.

DoubleVerify Price Performance

DoubleVerify stock opened at $17.58 on Monday. The company has a market cap of $3.02 billion, a P/E ratio of 46.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The firm’s 50 day simple moving average is $18.10 and its 200-day simple moving average is $21.29. DoubleVerify has a fifty-two week low of $16.38 and a fifty-two week high of $43.00.

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

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 8,820 shares of company stock valued at $160,206. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after buying an additional 216,370 shares during the period. Congress Asset Management Co. MA increased its holdings in DoubleVerify by 813.2% in the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after buying an additional 3,577,575 shares during the period. Assenagon Asset Management S.A. bought a new stake in DoubleVerify in the 2nd quarter valued at $73,268,000. Van Berkom & Associates Inc. boosted its stake in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares in the last quarter. Finally, Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify in the 2nd quarter valued at $54,099,000. Institutional investors own 97.29% of the company’s stock.

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.