DoubleVerify (NYSE:DV) Given New $30.00 Price Target at Piper Sandler

DoubleVerify (NYSE:DV) had its price target cut by Piper Sandler from $40.00 to $30.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Truist Financial cut their price target on shares of DoubleVerify from $39.00 to $32.00 and set a buy rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of DoubleVerify from $44.00 to $41.00 and set an overweight rating on the stock in a research note on Friday, March 1st. TheStreet raised shares of DoubleVerify from a d+ rating to a c- rating in a research note on Thursday, February 29th. Bank of America reduced their price objective on shares of DoubleVerify from $47.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Finally, Robert W. Baird reduced their price objective on shares of DoubleVerify from $42.00 to $34.00 and set an outperform rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, DoubleVerify presently has a consensus rating of Moderate Buy and an average price target of $35.05.

DoubleVerify Stock Performance

Shares of DV stock traded up $0.06 during midday trading on Wednesday, hitting $18.84. 7,987,461 shares of the company were exchanged, compared to its average volume of 2,103,979. The firm has a market capitalization of $3.24 billion, a P/E ratio of 45.39, a PEG ratio of 3.24 and a beta of 1.11. The firm’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $34.25. DoubleVerify has a 52 week low of $17.74 and a 52 week high of $43.00.

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

Insider Activity

In other news, insider Andrew E. Grimmig sold 50,924 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 in the company, valued at $1,322,572.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other DoubleVerify news, insider Andrew E. Grimmig sold 50,924 shares of DoubleVerify stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at $1,322,572.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Nicola T. Allais sold 5,292 shares of DoubleVerify stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total transaction of $163,311.12. Following the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,531 shares of company stock worth $3,043,004. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DV. Shaker Investments LLC OH increased its position in DoubleVerify by 0.4% during the 4th quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock valued at $2,793,000 after purchasing an additional 280 shares during the period. Assetmark Inc. increased its position in shares of DoubleVerify by 15.1% during the 3rd quarter. Assetmark Inc. now owns 3,279 shares of the company’s stock valued at $92,000 after purchasing an additional 430 shares during the last quarter. Huntington National Bank boosted its stake in DoubleVerify by 41.6% in the 3rd quarter. Huntington National Bank now owns 1,495 shares of the company’s stock worth $42,000 after purchasing an additional 439 shares during the period. Signaturefd LLC boosted its stake in DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after purchasing an additional 498 shares during the period. Finally, 1492 Capital Management LLC boosted its stake in DoubleVerify by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock worth $2,074,000 after purchasing an additional 553 shares during the period. 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.