DoubleVerify (NYSE:DV) Reaches New 12-Month Low Following Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV) shares reached a new 52-week low during mid-day trading on Wednesday after JMP Securities lowered their price target on the stock from $34.00 to $33.00. JMP Securities currently has a market outperform rating on the stock. DoubleVerify traded as low as $16.37 and last traded at $16.40, with a volume of 54395 shares trading hands. The stock had previously closed at $16.55.

DV has been the topic of a number of other reports. The Goldman Sachs Group decreased their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus cut their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Macquarie decreased their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Morgan Stanley lifted their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Barclays cut their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.65.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 8,820 shares of company stock worth $153,591. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DV. Vanguard Group Inc. increased its holdings in DoubleVerify by 1.4% in the first 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 period. Assenagon Asset Management S.A. lifted its position in shares of DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after purchasing an additional 360,445 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify during the second quarter worth $54,099,000. Finally, Geneva Capital Management LLC increased its position in shares of DoubleVerify by 44.9% during the first quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock worth $96,581,000 after buying an additional 851,346 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 3.5 %

The firm has a market cap of $2.89 billion, a P/E ratio of 44.24, a P/E/G ratio of 2.21 and a beta of 0.90. The business’s 50 day moving average is $17.88 and its two-hundred day moving average is $20.56.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The firm had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. During the same period last year, the company posted $0.07 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.3 EPS for the current year.

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.