DoubleVerify (NYSE:DV) Price Target Lowered to $34.00 at JMP Securities

DoubleVerify (NYSE:DV) had its price target cut by JMP Securities from $40.00 to $34.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

DV has been the subject of a number of other research reports. Bank of America cut their price target on shares of DoubleVerify from $47.00 to $45.00 and set a buy rating for the company in a research note on Thursday, February 29th. KeyCorp downgraded DoubleVerify from an overweight rating to a sector weight rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on DoubleVerify from $40.00 to $49.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Piper Sandler cut their price objective on shares of DoubleVerify from $40.00 to $30.00 and set an overweight rating for the company in a research report on Wednesday. Finally, Barclays dropped their target price on DoubleVerify from $43.00 to $40.00 and set an overweight rating for the company in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $35.05.

DoubleVerify Stock Performance

NYSE DV traded up $0.06 during trading on Wednesday, hitting $18.84. The stock had a trading volume of 7,987,461 shares, compared to its average volume of 2,103,979. The company has a market capitalization of $3.24 billion, a PE ratio of 45.39, a P/E/G ratio of 3.24 and a beta of 1.11. DoubleVerify has a 12 month low of $17.74 and a 12 month high of $43.00. The company’s 50-day moving average price is $31.65 and its two-hundred day moving average price is $34.25.

DoubleVerify (NYSE:DV) last announced 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 company had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. DoubleVerify’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. As a group, equities analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares in the company, valued at $4,524,264. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the transaction, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Nicola T. Allais sold 5,292 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total value of $163,311.12. Following the sale, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The disclosure for this sale can be found here. Insiders sold 92,431 shares of company stock valued at $3,070,904 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

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

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.