DoubleVerify (NYSE:DV) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

DoubleVerify (NYSE:DV) posted its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, Briefing.com reports. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The business had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.25 million. During the same quarter last year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

DoubleVerify Stock Performance

Shares of DV traded down $12.24 during trading hours on Wednesday, reaching $18.33. The stock had a trading volume of 13,470,889 shares, compared to its average volume of 1,956,029. The stock has a market capitalization of $3.15 billion, a PE ratio of 44.61, a PEG ratio of 3.24 and a beta of 1.11. DoubleVerify has a 12 month low of $17.74 and a 12 month high of $43.00. The company’s 50-day moving average is $32.06 and its two-hundred day moving average is $34.35.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DV shares. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a research note on Thursday, February 29th. BMO Capital Markets restated an “outperform” rating and issued a $42.00 price target (down previously from $44.00) on shares of DoubleVerify in a research note on Friday, March 1st. Royal Bank of Canada upped their price objective on shares of DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Barclays lowered their price target on shares of DoubleVerify from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Needham & Company LLC decreased their target price on DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Insiders Place Their Bets

In other news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction dated 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 directly owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The disclosure for this sale can be found here. Insiders sold a total of 91,531 shares of company stock valued at $3,043,004 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

DoubleVerify Company Profile

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.