DoubleVerify (NYSE:DV) Price Target Raised to $28.00 at The Goldman Sachs Group

DoubleVerify (NYSE:DV) had its price target lifted by stock analysts at The Goldman Sachs Group from $25.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 32.08% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of DoubleVerify in a report on Friday, June 14th. Macquarie restated an “outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a report on Wednesday. Truist Financial reduced their target price on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Piper Sandler lowered their price target on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their price objective on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus target price of $32.39.

DoubleVerify Stock Down 1.8 %

Shares of DV stock traded down $0.38 during trading hours on Wednesday, hitting $21.20. 977,574 shares of the company’s stock were exchanged, compared to its average volume of 2,378,756. DoubleVerify has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The firm has a market cap of $3.64 billion, a P/E ratio of 55.79, a P/E/G ratio of 3.13 and a beta of 0.93. The firm has a 50 day moving average of $19.32 and a two-hundred day moving average of $28.63.

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

DoubleVerify announced that its board has initiated a share repurchase plan on Thursday, May 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total value of $35,315.28. Following the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at $1,547,826.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total transaction of $35,315.28. Following the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at $1,547,826.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred 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 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. In the last three months, insiders have sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

Several hedge funds have recently modified their holdings of DV. Shaker Investments LLC OH increased its holdings in DoubleVerify by 0.4% during the 4th quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock worth $2,793,000 after purchasing an additional 280 shares during the period. Signaturefd LLC increased its stake in shares of DoubleVerify by 84.7% during the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after buying an additional 498 shares during the period. 1492 Capital Management LLC raised its holdings in DoubleVerify by 1.0% in the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after acquiring an additional 553 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after acquiring an additional 587 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in DoubleVerify by 42.0% during the 4th quarter. First Horizon Advisors Inc. now owns 2,382 shares of the company’s stock worth $88,000 after acquiring an additional 704 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Company Profile

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.