DoubleVerify (NYSE:DV) PT Raised to $22.00 at Morgan Stanley

DoubleVerify (NYSE:DV) had its price objective increased by Morgan Stanley from $21.00 to $22.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts have also commented on the company. Canaccord Genuity Group decreased their price target on DoubleVerify from $48.00 to $40.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Bank of America lowered DoubleVerify from a buy rating to an underperform rating and decreased their target price for the stock from $45.00 to $18.00 in a research note on Thursday, May 9th. KeyCorp lowered DoubleVerify from an overweight rating to a sector weight rating in a research note on Wednesday, May 8th. Barclays decreased their target price on DoubleVerify from $30.00 to $27.00 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Finally, Piper Sandler decreased their target price on DoubleVerify from $40.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, DoubleVerify currently has an average rating of Moderate Buy and an average target price of $33.95.

DoubleVerify Stock Up 1.3 %

Shares of DoubleVerify stock opened at $20.52 on Tuesday. DoubleVerify has a 52 week low of $17.50 and a 52 week high of $43.00. The business’s fifty day simple moving average is $19.24 and its 200-day simple moving average is $28.95. The firm has a market cap of $3.53 billion, a PE ratio of 54.00, a price-to-earnings-growth ratio of 3.03 and a beta of 0.93.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that DoubleVerify will post 0.31 earnings per share for the current year.

DoubleVerify declared that its board has approved a share repurchase plan on Thursday, May 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total value of $27,900.00. Following the transaction, 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 SEC, which is available at this hyperlink. In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of the company’s 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 completion of the sale, the insider now directly owns 145,944 shares of the company’s stock, valued at $4,524,264. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

A number of large investors have recently made changes to their positions in the company. Whittier Trust Co. acquired a new stake in DoubleVerify during the 1st quarter worth approximately $28,000. GAMMA Investing LLC acquired a new stake in shares of DoubleVerify in the 4th quarter valued at approximately $42,000. Signaturefd LLC lifted its holdings in shares of DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after buying an additional 498 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of DoubleVerify by 65.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after buying an additional 587 shares during the period. Finally, RiverPark Advisors LLC acquired a new stake in shares of DoubleVerify in the 1st quarter valued at approximately $54,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.