DoubleVerify’s (DV) Outperform Rating Reiterated at Macquarie

DoubleVerify (NYSE:DV)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a note issued to investors on Wednesday, Benzinga reports. They presently have a $25.00 price objective on the stock. Macquarie’s price objective would indicate a potential upside of 17.92% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial decreased their price target on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of DoubleVerify in a report on Friday, June 14th. Stifel Nicolaus reduced their target price on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group reduced their target price on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, KeyCorp lowered shares of DoubleVerify from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.39.

DoubleVerify Stock Performance

DV traded down $0.38 during trading on Wednesday, reaching $21.20. 977,574 shares of the company’s stock were exchanged, compared to its average volume of 2,378,756. The company’s fifty day moving average price is $19.32 and its 200-day moving average price is $28.63. DoubleVerify has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The firm has a market capitalization of $3.64 billion, a PE ratio of 55.79, a P/E/G ratio of 3.13 and a beta of 0.93.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The company had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. During the same quarter in the previous year, the business earned $0.07 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. Research analysts forecast that DoubleVerify will post 0.31 earnings per share for the current fiscal year.

DoubleVerify announced that its Board of Directors has initiated a share buyback plan on Thursday, May 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the transaction, the insider now directly owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Julie Eddleman sold 900 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the sale, the insider now owns 145,944 shares in the company, valued at approximately $4,524,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the sale, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,558,650.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,428 shares of company stock valued at $98,778. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently modified their holdings of the business. Shaker Investments LLC OH grew its holdings in shares of DoubleVerify by 0.4% during the fourth quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock valued at $2,793,000 after buying an additional 280 shares during the last quarter. Signaturefd LLC grew its stake in DoubleVerify by 84.7% during the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after acquiring an additional 498 shares in the last quarter. 1492 Capital Management LLC grew its stake in DoubleVerify by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after acquiring an additional 553 shares in the last quarter. Quadrant Capital Group LLC grew its stake in DoubleVerify by 65.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after buying an additional 587 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in DoubleVerify by 42.0% in the 4th quarter. First Horizon Advisors Inc. now owns 2,382 shares of the company’s stock worth $88,000 after buying an additional 704 shares in the last quarter. 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.