DoubleVerify’s (DV) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of DoubleVerify (NYSE:DV) in a report released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $33.00 price target on the stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley restated an equal weight rating and set a $21.00 price target (down from $40.00) on shares of DoubleVerify in a research report on Tuesday, June 25th. Robert W. Baird cut their price objective on DoubleVerify from $42.00 to $34.00 and set an outperform rating on the stock in a research report on Wednesday, May 8th. Truist Financial cut their price objective on DoubleVerify from $39.00 to $32.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group cut their price objective on DoubleVerify from $38.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, Bank of America lowered DoubleVerify from a buy rating to an underperform rating and cut their price objective for the stock from $45.00 to $18.00 in a research report on Thursday, May 9th. One investment 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 presently has an average rating of Moderate Buy and an average price target of $33.95.

DoubleVerify Price Performance

DV opened at $20.52 on Tuesday. The stock’s 50 day simple moving average is $19.24 and its 200 day simple moving average is $28.95. DoubleVerify has a 1 year low of $17.50 and a 1 year high of $43.00. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 3.03 and a beta of 0.93.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $138.25 million. During the same period last year, the company earned $0.07 EPS. DoubleVerify’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoubleVerify will post 0.31 EPS for the current year.

DoubleVerify announced that its board has authorized a stock buyback plan on Thursday, May 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total transaction of $35,315.28. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total transaction of $35,315.28. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the transaction, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Whittier Trust Co. purchased a new position in shares of DoubleVerify in the first quarter worth $28,000. Signaturefd LLC raised its stake in shares of DoubleVerify by 84.7% in the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after purchasing an additional 498 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of DoubleVerify in the fourth quarter worth $42,000. RiverPark Advisors LLC purchased a new position in shares of DoubleVerify in the first quarter worth $54,000. Finally, CWM LLC grew its holdings in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors 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.