Stifel Nicolaus Forecasts Strong Price Appreciation for DoubleVerify (NYSE:DV) Stock

DoubleVerify (NYSE:DV) had its price objective boosted by Stifel Nicolaus from $17.00 to $18.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of DoubleVerify from $18.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Cannonball Research lowered shares of DoubleVerify to a “neutral” rating in a research note on Sunday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of DoubleVerify in a research report on Thursday. Finally, Baird R W downgraded shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

DoubleVerify Price Performance

NYSE:DV opened at $14.48 on Thursday. DoubleVerify has a 12 month low of $11.52 and a 12 month high of $23.11. The firm has a market capitalization of $2.35 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.63 and a beta of 1.03. The business’s fifty day moving average price is $13.57 and its 200 day moving average price is $16.87.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). DoubleVerify had a net margin of 10.33% and a return on equity of 5.99%. The business had revenue of $165.06 million during the quarter, compared to analysts’ expectations of $153.07 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company’s revenue was up 17.2% compared to the same quarter last year. As a group, equities analysts anticipate that DoubleVerify will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of DoubleVerify during the fourth quarter worth approximately $113,000. State of New Jersey Common Pension Fund D increased its stake in DoubleVerify by 7.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 108,878 shares of the company’s stock valued at $2,092,000 after buying an additional 7,208 shares during the period. New York State Common Retirement Fund raised its position in DoubleVerify by 14.8% during the 4th quarter. New York State Common Retirement Fund now owns 506,427 shares of the company’s stock worth $9,728,000 after buying an additional 65,270 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of DoubleVerify in the 4th quarter worth $5,844,000. Finally, Ieq Capital LLC lifted its stake in shares of DoubleVerify by 725.7% in the 4th quarter. Ieq Capital LLC now owns 191,683 shares of the company’s stock worth $3,682,000 after acquiring an additional 168,468 shares during the period. 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.