DoubleVerify (NYSE:DV) Announces Quarterly Earnings Results

DoubleVerify (NYSE:DV) announced its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. DoubleVerify had a net margin of 9.97% and a return on equity of 5.76%. The business had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. During the same quarter in the previous year, the business posted $0.07 EPS. DoubleVerify’s quarterly revenue was up 16.6% on a year-over-year basis. DoubleVerify updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

DoubleVerify Trading Down 3.6 %

Shares of DoubleVerify stock traded down $0.75 on Friday, reaching $20.31. 1,528,221 shares of the company were exchanged, compared to its average volume of 2,400,392. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 3.14 and a beta of 0.93. DoubleVerify has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The stock has a fifty day moving average price of $19.41 and a 200-day moving average price of $28.53.

Analysts Set New Price Targets

DV has been the topic of several research reports. Stifel Nicolaus lowered their price objective on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. JMP Securities lowered their price target on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. William Blair cut shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley lifted their price objective 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, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.53.

Insiders Place Their Bets

In other DoubleVerify news, 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 transaction of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total value of $27,900.00. Following the sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is currently owned by company insiders.

DoubleVerify declared that its board has initiated a stock buyback program on Thursday, May 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.