DoubleVerify (NYSE:DV) Price Target Cut to $19.00 by Analysts at Macquarie

DoubleVerify (NYSE:DV) had its price objective decreased by analysts at Macquarie from $25.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target would indicate a potential upside of 11.24% from the company’s current price.

Other research analysts have also issued reports about the stock. 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. The Goldman Sachs Group reissued a “buy” rating and set a $28.00 target price on shares of DoubleVerify in a research note on Friday, September 13th. Morgan Stanley boosted 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. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research report on Friday, June 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $30.59.

DoubleVerify Stock Performance

NYSE DV opened at $17.08 on Friday. DoubleVerify has a one year low of $16.38 and a one year high of $43.00. The company has a 50-day simple moving average of $18.13 and a 200-day simple moving average of $21.50. The firm has a market capitalization of $2.90 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results 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 analyst estimates of $153.78 million. During the same period in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts forecast that DoubleVerify will post 0.3 earnings per share for the current year.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total value of $35,562.24. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,558,650.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 8,820 shares of company stock worth $160,206 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. acquired a new position in DoubleVerify during the 1st quarter valued at about $28,000. RiverPark Advisors LLC acquired a new position in DoubleVerify during the 1st quarter valued at about $54,000. CWM LLC lifted its position in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp lifted its position in DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after purchasing an additional 1,742 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in DoubleVerify by 37.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock valued at $129,000 after purchasing an additional 1,806 shares during the period. 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.