JMP Securities Cuts DoubleVerify (NYSE:DV) Price Target to $33.00

DoubleVerify (NYSE:DV) had its price target cut by JMP Securities from $34.00 to $33.00 in a research note published on Wednesday, Benzinga reports. They currently have a market outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Truist Financial reduced their price objective on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Piper Sandler dropped their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price target on DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and an average price target of $29.06.

DoubleVerify Stock Performance

DoubleVerify stock opened at $17.35 on Wednesday. The company has a market capitalization of $2.98 billion, a PE ratio of 45.66, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a 50 day moving average price of $17.81 and a 200-day moving average price of $20.43. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. DoubleVerify’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. On average, analysts forecast that DoubleVerify will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,339,023.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,820 shares of company stock worth $153,591 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DV. Wealth Enhancement Advisory Services LLC purchased a new stake in DoubleVerify during the 3rd quarter worth approximately $472,000. Values First Advisors Inc. raised its stake in DoubleVerify by 17.3% in the 3rd quarter. Values First Advisors Inc. now owns 13,806 shares of the company’s stock valued at $232,000 after purchasing an additional 2,035 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares in the last quarter. Townsend Asset Management Corp NC ADV boosted its stake in DoubleVerify by 259.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after purchasing an additional 79,145 shares during the last quarter. Finally, Everence Capital Management Inc. grew its holdings in shares of DoubleVerify by 17.5% during the third quarter. Everence Capital Management Inc. now owns 18,610 shares of the company’s stock worth $313,000 after buying an additional 2,770 shares in the last quarter. Institutional investors and hedge funds 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.