DoubleVerify (NYSE:DV) Price Target Cut to $34.00 by Analysts at Robert W. Baird

DoubleVerify (NYSE:DV) had its price target reduced by Robert W. Baird from $42.00 to $34.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the company. KeyCorp downgraded DoubleVerify from an overweight rating to a sector weight rating in a report on Wednesday. Macquarie raised shares of DoubleVerify from a neutral rating to an outperform rating and set a $40.00 price target on the stock in a research report on Monday, March 11th. BMO Capital Markets reissued an outperform rating and issued a $42.00 price objective (down previously from $44.00) on shares of DoubleVerify in a research report on Friday, March 1st. Royal Bank of Canada raised their target price on shares of DoubleVerify from $40.00 to $49.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Finally, Barclays decreased their price target on shares of DoubleVerify from $43.00 to $40.00 and set an overweight rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify presently has an average rating of Moderate Buy and an average target price of $36.05.

DoubleVerify Stock Performance

DV opened at $18.77 on Wednesday. DoubleVerify has a 1 year low of $17.74 and a 1 year high of $43.00. The company’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $34.25. The stock has a market capitalization of $3.22 billion, a PE ratio of 45.78, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. DoubleVerify’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. As a group, sell-side analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the transaction, the insider now directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares in the company, valued at $4,171,340.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Nicola T. Allais sold 5,364 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.80, for a total value of $175,939.20. Following the transaction, the chief financial officer now directly owns 73,030 shares in the company, valued at approximately $2,395,384. The disclosure for this sale can be found here. Insiders have sold a total of 91,531 shares of company stock valued at $3,043,004 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently added to or reduced their stakes in DV. Whittier Trust Co. bought a new position in shares of DoubleVerify during the first quarter valued at approximately $28,000. Guinness Atkinson Asset Management Inc bought a new position in DoubleVerify during the 3rd quarter worth $34,000. Signaturefd LLC increased its position in DoubleVerify by 84.7% in 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. Huntington National Bank lifted its stake in DoubleVerify by 41.6% in the third quarter. Huntington National Bank now owns 1,495 shares of the company’s stock valued at $42,000 after buying an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of DoubleVerify during the fourth quarter valued at $42,000. Institutional investors and hedge funds 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.