DoubleVerify (NYSE:DV) Sets New 52-Week Low Following Analyst Downgrade

by · The Cerbat Gem

DoubleVerify Holdings, Inc. (NYSE:DV – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday after JMP Securities lowered their price target on the stock from $34.00 to $33.00. JMP Securities currently has a market outperform rating on the stock. DoubleVerify traded as low as $16.37 and last traded at $16.40, with a volume of 54395 shares. The stock had previously closed at $16.55.

A number of other brokerages also recently issued reports on DV. Piper Sandler lowered their price target on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial dropped their target price on DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus reduced their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Macquarie cut their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given 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 $29.65.

Get Our Latest Stock Analysis on DV

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $19.25, for a total value of $33,957.00. Following the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at $1,488,294.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 7,056 shares of company stock worth $124,644 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently made changes to their positions in DV. Vanguard Group Inc. increased its position in shares of DoubleVerify by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after acquiring an additional 2,017,687 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in DoubleVerify by 15.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,019 shares of the company’s stock worth $589,000 after purchasing an additional 2,120 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in DoubleVerify by 27.9% in the first quarter. Park Avenue Securities LLC now owns 39,024 shares of the company’s stock worth $1,372,000 after purchasing an additional 8,509 shares during the period. Hodges Capital Management Inc. bought a new stake in DoubleVerify during the first quarter valued at $16,625,000. Finally, First Dallas Securities Inc. acquired a new stake in shares of DoubleVerify during the first quarter worth $620,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 43.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The company’s fifty day moving average price is $17.96 and its 200 day moving average price is $20.71.

DoubleVerify (NYSE:DV – Get Free Report) last released its earnings results 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 return on equity of 5.70% and a net margin of 9.97%. The firm had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts expect that DoubleVerify Holdings, Inc. will post 0.3 earnings per share for the current year.

About DoubleVerify

(Get Free Report)

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.

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