Piper Sandler Trims DoubleVerify (NYSE:DV) Target Price to $21.00

DoubleVerify (NYSE:DV) had its price objective lowered by equities researchers at Piper Sandler from $30.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 27.00% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Macquarie reduced their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Morgan Stanley upped their price target 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. Barclays lowered their price objective on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research report on Tuesday, September 17th. Finally, Truist Financial lowered their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average price target of $29.71.

DoubleVerify Stock Performance

DV opened at $16.54 on Wednesday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 2.21 and a beta of 0.90. The company has a fifty day moving average of $17.96 and a 200 day moving average of $20.71. DoubleVerify has a fifty-two week low of $16.38 and a fifty-two week high of $43.00.

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

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $17.21, for a total transaction of $30,358.44. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at $1,404,301.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,056 shares of company stock worth $124,644. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently bought and sold shares of DV. Whittier Trust Co. purchased a new position in DoubleVerify during the 1st quarter valued at about $28,000. RiverPark Advisors LLC bought a new stake in DoubleVerify during the 1st quarter valued at $54,000. CWM LLC increased its holdings in shares of DoubleVerify by 212.5% in the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares during the period. Park Place Capital Corp raised its position in shares of DoubleVerify by 153.5% in the 1st quarter. Park Place Capital Corp now owns 4,021 shares of the company’s stock worth $141,000 after acquiring an additional 2,435 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares in the last quarter. 97.29% of the stock is owned by 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.