Needham & Company LLC Reaffirms “Buy” Rating for DoubleVerify (NYSE:DV)

Needham & Company LLC restated their buy rating on shares of DoubleVerify (NYSE:DV) in a report issued on Tuesday morning, Benzinga reports. They currently have a $33.00 price objective on the stock.

Other research analysts have also issued reports about the company. Macquarie reissued an outperform rating and issued a $25.00 price objective on shares of DoubleVerify in a report on Wednesday, July 31st. Barclays cut their price target on shares of DoubleVerify from $30.00 to $27.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. The Goldman Sachs Group reaffirmed a buy rating and issued a $28.00 price objective on shares of DoubleVerify in a report on Friday, September 13th. Royal Bank of Canada reissued an outperform rating and set a $40.00 target price on shares of DoubleVerify in a report on Friday, June 14th. Finally, 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 report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $31.18.

DoubleVerify Stock Down 0.3 %

Shares of DoubleVerify stock opened at $17.23 on Tuesday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 45.37, a PEG ratio of 2.40 and a beta of 0.92. DoubleVerify has a 52 week low of $16.93 and a 52 week high of $43.00. The company has a 50 day moving average price of $19.25 and a 200 day moving average price of $23.34.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting 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 period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Monday, August 5th. The shares were sold at an average price of $19.25, for a total value of $33,957.00. Following the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,488,294.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,292 shares of company stock valued at $104,835 in the last three months. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DV. Whittier Trust Co. acquired a new position in DoubleVerify in the 1st quarter valued at $28,000. RiverPark Advisors LLC purchased a new stake in shares of DoubleVerify during the first quarter worth $54,000. CWM LLC raised its position in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after buying an additional 1,900 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after buying an additional 587 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other 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.