JMP Securities Cuts DoubleVerify (NYSE:DV) Price Target to $34.00

DoubleVerify (NYSE:DV) had its price objective reduced by equities researchers at JMP Securities from $40.00 to $34.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 86.30% from the stock’s current price.

DV has been the topic of several other research reports. Canaccord Genuity Group lowered their target price on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus lowered their price objective on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. 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 set a $42.00 target price (down previously from $44.00) on shares of DoubleVerify in a research note on Friday, March 1st. Finally, Piper Sandler cut their price objective on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.47.

DoubleVerify Trading Down 40.3 %

Shares of DV traded down $12.32 during mid-day trading on Wednesday, reaching $18.25. The company’s stock had a trading volume of 16,490,891 shares, compared to its average volume of 1,985,663. The stock has a market cap of $3.13 billion, a PE ratio of 44.56, a P/E/G ratio of 3.24 and a beta of 1.11. DoubleVerify has a 52 week low of $17.74 and a 52 week high of $43.00. The company’s fifty day moving average price is $32.06 and its two-hundred day moving average price is $34.35.

DoubleVerify (NYSE:DV) last posted its quarterly 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. The company had revenue of $140.70 million during 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%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Research analysts anticipate that DoubleVerify will post 0.36 EPS for the current year.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 5,364 shares of the business’s stock in a transaction dated 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 owns 73,030 shares in the company, valued at $2,395,384. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Nicola T. Allais sold 5,364 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,395,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,531 shares of company stock valued at $3,043,004. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of DoubleVerify by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock valued at $570,494,000 after acquiring an additional 2,017,687 shares during the last quarter. Capital World Investors increased its holdings in shares of DoubleVerify by 6.0% in the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after purchasing an additional 301,011 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of DoubleVerify by 813.2% in the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after purchasing an additional 3,577,575 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of DoubleVerify by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock valued at $107,076,000 after purchasing an additional 1,082,615 shares in the last quarter. Finally, Geneva Capital Management LLC increased its holdings in shares of DoubleVerify by 44.9% in the first quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock valued at $96,581,000 after purchasing an additional 851,346 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.