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

DoubleVerify (NYSE:DV) had its target price dropped by equities research analysts at JMP Securities from $40.00 to $34.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 86.30% from the company’s current price.

A number of other research firms also recently weighed in on DV. Canaccord Genuity Group lowered their price objective on DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Macquarie raised shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, March 11th. Truist Financial reduced their price target on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Finally, Bank of America reduced their target price on DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and an average price target of $38.47.

DoubleVerify Trading Down 40.3 %

DoubleVerify stock traded down $12.32 on Wednesday, reaching $18.25. 16,490,891 shares of the stock were exchanged, compared to its average volume of 1,985,663. The stock has a market cap of $3.13 billion, a PE ratio of 44.56, a PEG ratio of 3.24 and a beta of 1.11. DoubleVerify has a twelve month low of $17.74 and a twelve month high of $43.00. The firm has a fifty day moving average price of $32.06 and a two-hundred day moving average price of $34.35.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Equities analysts anticipate that DoubleVerify will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total transaction of $163,311.12. Following the completion of the transaction, the chief financial officer now directly owns 73,030 shares in the company, valued at $2,253,705.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now directly owns 137,668 shares in the company, valued at $4,171,340.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,531 shares of company stock valued at $3,043,004. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Motley Fool Asset Management LLC bought a new position in DoubleVerify during the fourth quarter valued at $962,000. Envestnet Asset Management Inc. raised its stake in DoubleVerify by 40.2% in the third quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after buying an additional 55,322 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in DoubleVerify by 135.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock worth $1,625,000 after purchasing an additional 33,499 shares in the last quarter. California Public Employees Retirement System raised its position in DoubleVerify by 24.7% during the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock worth $8,178,000 after buying an additional 44,106 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of DoubleVerify in the 4th quarter valued at $1,590,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.