DoubleVerify (NYSE:DV) Rating Reiterated by Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $33.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 52.85% from the stock’s current price.

Other analysts have also issued research reports about the stock. Capital One Financial lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Piper Sandler decreased their price target on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research note on Friday, June 14th. Barclays decreased their price target on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, KeyCorp lowered shares of DoubleVerify from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.06.

DoubleVerify Stock Up 6.1 %

NYSE:DV opened at $21.59 on Wednesday. The company has a fifty day moving average of $19.32 and a 200-day moving average of $28.63. The firm has a market capitalization of $3.71 billion, a P/E ratio of 56.82, a P/E/G ratio of 3.13 and a beta of 0.93. DoubleVerify has a twelve month low of $17.50 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. DoubleVerify’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, analysts anticipate that DoubleVerify will post 0.31 EPS for the current fiscal year.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On DoubleVerify

Several institutional investors have recently added to or reduced their stakes in the business. Shaker Investments LLC OH increased its position in shares of DoubleVerify by 0.4% during the fourth quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock valued at $2,793,000 after buying an additional 280 shares during the period. Signaturefd LLC increased its position in shares of DoubleVerify by 84.7% during the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after buying an additional 498 shares during the period. 1492 Capital Management LLC increased its position in shares of DoubleVerify by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after buying an additional 553 shares during the period. Quadrant Capital Group LLC increased its position in shares of DoubleVerify by 65.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after buying an additional 587 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of DoubleVerify by 42.0% during the fourth quarter. First Horizon Advisors Inc. now owns 2,382 shares of the company’s stock valued at $88,000 after buying an additional 704 shares during the period. 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.