DoubleVerify (NYSE:DV) Price Target Cut to $40.00 by Analysts at Royal Bank of Canada

DoubleVerify (NYSE:DV) had its price target decreased by Royal Bank of Canada from $49.00 to $40.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also recently commented on DV. Stifel Nicolaus reduced their price target on DoubleVerify from $37.00 to $25.00 and set a buy rating for the company in a report on Wednesday. Needham & Company LLC dropped their target price on shares of DoubleVerify from $45.00 to $33.00 and set a buy rating for the company in a report on Wednesday. JMP Securities reduced their price target on shares of DoubleVerify from $40.00 to $34.00 and set a market outperform rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on shares of DoubleVerify from $39.00 to $32.00 and set a buy rating for the company in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on DoubleVerify from $42.00 to $34.00 and set an outperform rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $35.05.

DoubleVerify Stock Performance

Shares of DV stock traded up $0.06 during mid-day trading on Wednesday, hitting $18.84. 7,987,461 shares of the stock were exchanged, compared to its average volume of 2,103,979. The stock’s fifty day simple moving average is $31.65 and its two-hundred day simple moving average is $34.25. DoubleVerify has a 12-month low of $17.74 and a 12-month high of $43.00. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. On average, research analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Activity at DoubleVerify

In related news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the completion of the transaction, the insider now directly owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The disclosure for this sale can be found here. Insiders sold a total of 92,431 shares of company stock valued at $3,070,904 in the last quarter. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of DoubleVerify by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock valued at $570,494,000 after buying an additional 2,017,687 shares in the last quarter. Capital World Investors lifted its holdings in shares of DoubleVerify by 6.0% during the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after purchasing an additional 301,011 shares during the last quarter. Congress Asset Management Co. MA increased its stake in DoubleVerify by 813.2% in the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after purchasing an additional 3,577,575 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of DoubleVerify by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock worth $107,076,000 after buying an additional 1,082,615 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of DoubleVerify by 44.9% in the first quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock worth $96,581,000 after acquiring an additional 851,346 shares in the last quarter. 97.29% of the stock is 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.