DoubleVerify (NYSE:DV) Announces Quarterly Earnings Results

DoubleVerify (NYSE:DV) posted its earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04, Briefing.com reports. The company had revenue of $155.89 million for the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share.

DoubleVerify Stock Up 6.1 %

Shares of DV traded up $1.24 during trading hours on Tuesday, hitting $21.58. The company had a trading volume of 4,799,023 shares, compared to its average volume of 2,389,848. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 54.53, a PEG ratio of 3.16 and a beta of 0.93. The business has a fifty day moving average of $19.26 and a 200-day moving average of $28.74. DoubleVerify has a 12 month low of $17.50 and a 12 month high of $43.00.

DoubleVerify declared that its Board of Directors has approved a stock buyback program on Thursday, May 16th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total value of $27,900.00. Following the transaction, the insider now owns 145,944 shares in the company, valued at $4,524,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the transaction, the insider now directly owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,428 shares of company stock valued at $98,778. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DV. Truist Financial dropped their price objective on DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Bank of America lowered DoubleVerify from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $45.00 to $18.00 in a research report on Thursday, May 9th. Barclays decreased their price objective on DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Stifel Nicolaus reduced their price target on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.06.

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.