DoubleVerify (NYSE:DV) Price Target Cut to $21.00

DoubleVerify (NYSE:DV) had its price target dropped by stock analysts at Piper Sandler from $30.00 to $21.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 24.93% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Barclays decreased their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Stifel Nicolaus lowered their price objective on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Truist Financial reduced their target price on DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. The Goldman Sachs Group decreased their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and a consensus price target of $29.65.

DoubleVerify Trading Up 3.5 %

DV opened at $16.81 on Wednesday. The stock has a market capitalization of $2.89 billion, a P/E ratio of 44.24, a PEG ratio of 2.21 and a beta of 0.90. The stock has a 50-day moving average price of $17.84 and a 200-day moving average price of $20.54. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $153.78 million. During the same period last year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts predict that DoubleVerify will post 0.3 EPS for the current year.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 8,820 shares of company stock worth $153,591. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

Several large investors have recently made changes to their positions in DV. Oppenheimer Asset Management Inc. boosted its stake in DoubleVerify by 62.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after purchasing an additional 45,689 shares during the period. Norden Group LLC purchased a new stake in DoubleVerify in the 1st quarter worth $15,297,000. Vanguard Group Inc. boosted its holdings in shares of DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after purchasing an additional 216,370 shares during the last quarter. Swiss National Bank grew its position in shares of DoubleVerify by 15.4% during the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock valued at $10,063,000 after purchasing an additional 38,200 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of DoubleVerify by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after purchasing an additional 33,003 shares in the last quarter. 97.29% of the stock is currently 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.