Royal Bank Of Canada Cuts DoubleVerify (NYSE:DV) Price Target to $20.00

DoubleVerify (NYSE:DV) had its target price cut by investment analysts at Royal Bank Of Canada from $23.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 91.11% from the stock’s previous close.

Several other research analysts have also issued reports on DV. Barclays raised their price target on DoubleVerify from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised shares of DoubleVerify from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $19.00 in a research report on Friday, August 1st. Morgan Stanley decreased their price target on shares of DoubleVerify from $18.00 to $16.50 and set an “equal weight” rating for the company in a report on Monday, October 20th. Wells Fargo & Company dropped their price objective on DoubleVerify from $13.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, DoubleVerify currently has a consensus rating of “Hold” and an average target price of $17.59.

DoubleVerify Trading Up 11.4%

NYSE:DV traded up $1.08 during trading hours on Monday, hitting $10.47. 1,230,373 shares of the stock were exchanged, compared to its average volume of 2,759,368. The company’s 50 day moving average is $12.27 and its two-hundred day moving average is $13.89. The company has a market capitalization of $1.71 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. DoubleVerify has a twelve month low of $7.64 and a twelve month high of $23.11. The company has a quick ratio of 4.41, a current ratio of 3.98 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.13. The business had revenue of $188.62 million for the quarter, compared to analysts’ expectations of $190.43 million. DoubleVerify had a return on equity of 6.59% and a net margin of 6.10%.The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. DoubleVerify has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew E. Grimmig sold 4,096 shares of DoubleVerify stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $12.99, for a total transaction of $53,207.04. Following the completion of the transaction, the insider owned 96,301 shares in the company, valued at approximately $1,250,949.99. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lucy Stamell Dobrin sold 6,392 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $14.51, for a total value of $92,747.92. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,488 shares of company stock valued at $157,255 over the last quarter. 3.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in DoubleVerify by 582.9% in the 1st quarter. Signaturefd LLC now owns 2,322 shares of the company’s stock valued at $31,000 after purchasing an additional 1,982 shares during the period. Parallel Advisors LLC lifted its position in shares of DoubleVerify by 572.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,386 shares of the company’s stock valued at $36,000 after acquiring an additional 2,031 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of DoubleVerify by 178.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,447 shares of the company’s stock worth $41,000 after purchasing an additional 2,211 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of DoubleVerify in the second quarter worth $42,000. Finally, Farther Finance Advisors LLC raised its stake in DoubleVerify by 3,035.6% in the second quarter. Farther Finance Advisors LLC now owns 3,167 shares of the company’s stock valued at $47,000 after purchasing an additional 3,066 shares in the last quarter. 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.