DoubleVerify (NYSE:DV) Stock Rating Reaffirmed by Morgan Stanley

DoubleVerify (NYSE:DV)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $21.00 price target on the stock, down from their prior price target of $40.00. Morgan Stanley’s target price points to a potential upside of 9.40% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Robert W. Baird dropped their price target on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a report on Thursday, February 29th. The Goldman Sachs Group lowered their price target on shares of DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of DoubleVerify in a research note on Friday, June 14th. Finally, Stifel Nicolaus lowered their target price on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and an average price target of $34.05.

DoubleVerify Stock Up 1.3 %

DoubleVerify stock opened at $19.20 on Tuesday. The company’s 50 day moving average is $21.96 and its two-hundred day moving average is $31.36. The firm has a market cap of $3.30 billion, a PE ratio of 50.51, a price-to-earnings-growth ratio of 2.74 and a beta of 0.92. DoubleVerify has a 52-week low of $17.50 and a 52-week high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The business had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that DoubleVerify will post 0.33 earnings per share for the current fiscal year.

DoubleVerify declared that its board has authorized a share repurchase program on Thursday, May 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $33.05, for a total transaction of $29,745.00. Following the completion of the sale, the insider now owns 140,702 shares in the company, valued at approximately $4,650,201.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Andrew E. Grimmig sold 16,667 shares of DoubleVerify stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the sale, the insider now owns 39,468 shares of the company’s stock, valued at approximately $1,334,018.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $33.05, for a total value of $29,745.00. Following the completion of the sale, the insider now owns 140,702 shares in the company, valued at $4,650,201.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,951 shares of company stock worth $984,214. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. raised its position in DoubleVerify by 21.1% during the third quarter. Citigroup Inc. now owns 50,209 shares of the company’s stock valued at $1,403,000 after purchasing an additional 8,746 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of DoubleVerify during the 3rd quarter valued at about $68,000. Envestnet Portfolio Solutions Inc. bought a new stake in DoubleVerify in the 3rd quarter worth approximately $292,000. Envestnet Asset Management Inc. lifted its holdings in shares of DoubleVerify by 40.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock worth $5,388,000 after acquiring an additional 55,322 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in DoubleVerify in the 3rd quarter worth $2,798,000. 97.29% of the stock is 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.