DoubleVerify (NYSE:DV) Now Covered by Wells Fargo & Company

Equities researchers at Wells Fargo & Company assumed coverage on shares of DoubleVerify (NYSE:DV) in a research report issued on Monday, Benzinga reports. The brokerage set an “underweight” rating and a $14.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 19.79% from the company’s current price.

Other analysts have also recently issued reports about the company. Piper Sandler cut their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. JMP Securities dropped their target price on shares of DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus decreased their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus target price of $27.47.

DoubleVerify Price Performance

Shares of DV traded up $0.10 during midday trading on Monday, hitting $17.46. 2,092,426 shares of the company traded hands, compared to its average volume of 2,354,795. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The firm has a market cap of $2.97 billion, a P/E ratio of 49.87, a PEG ratio of 2.21 and a beta of 0.90. The stock has a 50-day moving average of $17.81 and a 200-day moving average of $20.25.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.07 EPS. DoubleVerify’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts forecast that DoubleVerify will post 0.3 EPS for the current fiscal year.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,410,013.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 8,820 shares of company stock worth $153,591. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Park Place Capital Corp raised its position in shares of DoubleVerify by 153.5% during the 1st quarter. Park Place Capital Corp now owns 4,021 shares of the company’s stock valued at $141,000 after buying an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in DoubleVerify during the first quarter valued at approximately $309,000. Norden Group LLC bought a new stake in shares of DoubleVerify in the 1st quarter valued at approximately $15,297,000. Legacy Wealth Asset Management LLC purchased a new position in shares of DoubleVerify in the 1st quarter worth approximately $295,000. Finally, Diversify Advisory Services LLC purchased a new stake in DoubleVerify during the 1st quarter valued at $325,000. 97.29% of the stock is currently 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.