DoubleVerify (NYSE:DV) Price Target Cut to $32.00 by Analysts at Truist Financial

DoubleVerify (NYSE:DV) had its target price reduced by equities researchers at Truist Financial from $39.00 to $32.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 69.49% from the company’s previous close.

A number of other research analysts have also weighed in on DV. Stifel Nicolaus dropped their target price on DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada upped their target price on shares of DoubleVerify from $40.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. TheStreet raised shares of DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Wells Fargo & Company reduced their price objective on shares of DoubleVerify from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Finally, Robert W. Baird dropped their target price on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.28.

DoubleVerify Price Performance

Shares of NYSE:DV traded down $11.69 during mid-day trading on Wednesday, hitting $18.88. The company had a trading volume of 6,005,206 shares, compared to its average volume of 1,864,801. DoubleVerify has a one year low of $17.74 and a one year high of $43.00. The firm has a fifty day moving average price of $32.06 and a 200 day moving average price of $34.35. The company has a market capitalization of $3.24 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The business had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. During the same period in the previous year, the company posted $0.07 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Research analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 5,364 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.80, for a total transaction of $175,939.20. Following the transaction, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,395,384. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Andrew E. Grimmig sold 50,924 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the transaction, the insider now directly owns 39,468 shares in the company, valued at approximately $1,322,572.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nicola T. Allais sold 5,364 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.80, for a total value of $175,939.20. Following the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at approximately $2,395,384. The disclosure for this sale can be found here. Insiders sold a total of 91,531 shares of company stock worth $3,043,004 in the last three months. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. increased its holdings in DoubleVerify by 9.0% in the 3rd quarter. Xponance Inc. now owns 17,246 shares of the company’s stock worth $482,000 after acquiring an additional 1,418 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of DoubleVerify by 2.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 105,199 shares of the company’s stock valued at $2,940,000 after purchasing an additional 2,189 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of DoubleVerify by 39.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock valued at $107,076,000 after buying an additional 1,082,615 shares in the last quarter. New York State Teachers Retirement System increased its stake in DoubleVerify by 176.4% in the 3rd quarter. New York State Teachers Retirement System now owns 92,238 shares of the company’s stock worth $2,578,000 after buying an additional 58,861 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in DoubleVerify by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,955 shares of the company’s stock valued at $558,000 after acquiring an additional 2,252 shares during the period. 97.29% of the stock is currently owned by 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.