DoubleVerify (NYSE:DV) Price Target Lowered to $32.00 at Truist Financial

DoubleVerify (NYSE:DV) had its price objective lowered by Truist Financial from $39.00 to $32.00 in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. lowered their target price on DoubleVerify from $32.00 to $30.00 and set a neutral rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC dropped their price objective on DoubleVerify from $45.00 to $33.00 and set a buy rating on the stock in a report on Wednesday. Macquarie upgraded shares of DoubleVerify from a neutral rating to an outperform rating and set a $40.00 target price for the company in a research note on Monday, March 11th. TheStreet upgraded shares of DoubleVerify from a d+ rating to a c- rating in a research note on Thursday, February 29th. Finally, KeyCorp lowered shares of DoubleVerify from an overweight rating to a sector weight rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $35.05.

DoubleVerify Stock Performance

NYSE DV traded up $0.06 on Wednesday, reaching $18.84. The company’s stock had a trading volume of 7,987,461 shares, compared to its average volume of 2,103,979. The firm’s 50 day moving average is $31.65 and its two-hundred day moving average is $34.25. The stock has a market cap of $3.24 billion, a PE ratio of 45.39, a PEG ratio of 3.24 and a beta of 1.11. DoubleVerify has a twelve month low of $17.74 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The company had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. During the same period last year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that DoubleVerify will post 0.36 EPS for the current fiscal year.

Insider Activity at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the transaction, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated 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 directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the transaction, the insider now owns 39,468 shares of the company’s stock, valued at approximately $1,322,572.68. The disclosure for this sale can be found here. Insiders have sold a total of 92,431 shares of company stock valued at $3,070,904 over the last 90 days. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC purchased a new stake in shares of DoubleVerify during the fourth quarter valued at approximately $962,000. Envestnet Asset Management Inc. raised its stake in shares of DoubleVerify by 40.2% during the third quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after acquiring an additional 55,322 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of DoubleVerify by 135.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock worth $1,625,000 after purchasing an additional 33,499 shares during the period. California Public Employees Retirement System increased its holdings in DoubleVerify by 24.7% during the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock valued at $8,178,000 after purchasing an additional 44,106 shares during the period. Finally, Moody National Bank Trust Division bought a new position in DoubleVerify during the 4th quarter valued at approximately $1,590,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.