DoubleVerify (NYSE:DV) Stock Rating Reaffirmed by Macquarie

DoubleVerify (NYSE:DV)‘s stock had its “outperform” rating reiterated by equities research analysts at Macquarie in a research note issued on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. Macquarie’s price objective suggests a potential upside of 18.68% from the stock’s current price.

A number of other equities analysts have also commented on DV. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a report on Wednesday. KeyCorp lowered DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 8th. Bank of America lowered DoubleVerify from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $45.00 to $18.00 in a research note on Thursday, May 9th. William Blair lowered DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their price objective on DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One equities 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 stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $31.53.

DoubleVerify Trading Down 0.3 %

Shares of DV opened at $21.07 on Wednesday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 55.44, a PEG ratio of 3.14 and a beta of 0.93. The stock has a 50 day moving average of $19.41 and a 200 day moving average of $28.53. DoubleVerify has a 12 month low of $17.50 and a 12 month high of $43.00.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. DoubleVerify had a return on equity of 5.76% and a net margin of 9.97%. The business had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period last year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts predict that DoubleVerify will post 0.29 earnings per share for the current year.

DoubleVerify announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 16th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 145,944 shares in the company, valued at approximately $4,524,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the 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 completion of the transaction, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of the 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 transaction, the insider now directly 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 ninety days, insiders sold 4,428 shares of company stock worth $98,778. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DV. Assenagon Asset Management S.A. bought a new position in shares of DoubleVerify in the 2nd quarter valued at about $73,268,000. Congress Asset Management Co. MA lifted its holdings in shares of DoubleVerify by 813.2% in the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after acquiring an additional 3,577,575 shares during the last quarter. Vanguard Group Inc. raised its position in DoubleVerify by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after purchasing an additional 2,017,687 shares during the period. Norges Bank purchased a new stake in DoubleVerify in the 4th quarter worth about $58,477,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in DoubleVerify in the 1st quarter worth about $53,584,000. 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.