Royal Bank of Canada Reaffirms Outperform Rating for DoubleVerify (NYSE:DV)

Royal Bank of Canada reissued their outperform rating on shares of DoubleVerify (NYSE:DV) in a research report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $48.00 price target on the stock.

Several other brokerages have also recently commented on DV. KeyCorp decreased their target price on shares of DoubleVerify from $45.00 to $41.00 and set an overweight rating for the company in a report on Monday, September 11th. The Goldman Sachs Group raised their target price on shares of DoubleVerify from $35.00 to $40.00 in a report on Monday, July 17th. Barclays raised their target price on shares of DoubleVerify from $34.00 to $47.00 in a report on Wednesday, July 19th. Stephens reiterated an overweight rating and issued a $47.00 target price on shares of DoubleVerify in a report on Tuesday, August 1st. Finally, Truist Financial raised their target price on shares of DoubleVerify from $38.00 to $45.00 and gave the stock a buy rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, DoubleVerify currently has an average rating of Moderate Buy and a consensus price target of $42.47.

DoubleVerify Trading Down 2.5 %

NYSE:DV opened at $28.21 on Friday. DoubleVerify has a twelve month low of $20.38 and a twelve month high of $42.51. The company has a 50-day moving average of $34.85 and a 200-day moving average of $32.70. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 94.03 and a beta of 0.94.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. DoubleVerify had a net margin of 10.64% and a return on equity of 6.01%. The company had revenue of $133.74 million during the quarter, compared to analyst estimates of $133.39 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, research analysts forecast that DoubleVerify will post 0.36 earnings per share for the current year.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 9,231 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $37.71, for a total transaction of $348,101.01. Following the transaction, the chief financial officer now owns 59,674 shares of the company’s stock, valued at $2,250,306.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Laura Desmond sold 11,002 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $37.79, for a total value of $415,765.58. Following the completion of the sale, the director now directly owns 179,071 shares in the company, valued at $6,767,093.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicola T. Allais sold 9,231 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $37.71, for a total transaction of $348,101.01. Following the completion of the sale, the chief financial officer now owns 59,674 shares of the company’s stock, valued at $2,250,306.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,191,350 shares of company stock valued at $819,263,084. 3.27% of the stock is currently owned by corporate insiders.

Institutional Trading of DoubleVerify

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alberta Investment Management Corp acquired a new position in DoubleVerify during the 2nd quarter valued at $539,000. California State Teachers Retirement System raised its stake in DoubleVerify by 93.7% during the 2nd quarter. California State Teachers Retirement System now owns 132,414 shares of the company’s stock valued at $5,154,000 after purchasing an additional 64,067 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in DoubleVerify by 5.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,661 shares of the company’s stock valued at $959,000 after purchasing an additional 1,361 shares during the last quarter. Legato Capital Management LLC acquired a new position in DoubleVerify during the 2nd quarter valued at $488,000. Finally, Nuveen Asset Management LLC raised its stake in DoubleVerify by 50.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 324,581 shares of the company’s stock valued at $12,633,000 after purchasing an additional 108,914 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.