DoubleVerify’s (DV) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of DoubleVerify (NYSE:DV) in a research report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $18.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Cannonball Research downgraded DoubleVerify to a “neutral” rating in a report on Sunday, March 2nd. Stifel Nicolaus reduced their price target on DoubleVerify from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group reduced their price target on DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group reduced their price objective on DoubleVerify from $20.00 to $15.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada reduced their price objective on DoubleVerify from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average target price of $19.31.

DoubleVerify Price Performance

NYSE:DV opened at $15.10 on Monday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.63 and a beta of 1.03. DoubleVerify has a 1 year low of $11.52 and a 1 year high of $23.11. The business has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $17.65.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $165.06 million during the quarter, compared to the consensus estimate of $153.07 million. DoubleVerify had a net margin of 10.33% and a return on equity of 5.99%. DoubleVerify’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors have recently modified their holdings of DV. Wealth Enhancement Advisory Services LLC increased its stake in shares of DoubleVerify by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after purchasing an additional 526 shares in the last quarter. Federated Hermes Inc. increased its stake in DoubleVerify by 6.3% during the 4th quarter. Federated Hermes Inc. now owns 9,571 shares of the company’s stock worth $184,000 after buying an additional 571 shares in the last quarter. GAMMA Investing LLC increased its stake in DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after buying an additional 863 shares in the last quarter. Covestor Ltd increased its stake in DoubleVerify by 13.9% during the 1st quarter. Covestor Ltd now owns 7,291 shares of the company’s stock worth $97,000 after buying an additional 889 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after buying an additional 981 shares in the last quarter. Hedge funds and other 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.