DoubleVerify (NYSE:DV) Posts Earnings Results, Meets Estimates

DoubleVerify (NYSE:DV) issued its earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. The company had revenue of $155.89 million for the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a return on equity of 5.76% and a net margin of 9.97%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. DoubleVerify updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

DoubleVerify Price Performance

Shares of NYSE:DV traded up $0.10 during trading on Thursday, reaching $21.22. The stock had a trading volume of 502,939 shares, compared to its average volume of 2,390,422. The stock has a market capitalization of $3.65 billion, a PE ratio of 55.62, a P/E/G ratio of 3.32 and a beta of 0.93. DoubleVerify has a 52 week low of $17.50 and a 52 week high of $43.00. The business’s 50-day moving average price is $19.36 and its 200 day moving average price is $28.58.

DoubleVerify announced that its board has authorized a stock buyback program on Thursday, May 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total value of $35,315.28. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,547,826.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 directly owns 145,944 shares of the company’s stock, valued at $4,524,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total transaction of $35,315.28. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at approximately $1,547,826.28. The disclosure for this sale can be found here. Insiders have sold a total of 4,428 shares of company stock worth $98,778 in the last three months. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

DV has been the topic of a number of research reports. William Blair downgraded DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley raised their price objective on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Piper Sandler decreased their target price on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus cut their price target on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, KeyCorp cut shares of DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.39.

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.