DoubleVerify (NYSE:DV) Earns Outperform Rating from Macquarie

Macquarie reiterated their outperform rating on shares of DoubleVerify (NYSE:DV) in a report released on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock.

DV has been the topic of a number of other reports. BMO Capital Markets dropped their price target on DoubleVerify from $42.00 to $38.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Barclays lowered their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Morgan Stanley lifted their price objective on shares of DoubleVerify from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. William Blair lowered shares of DoubleVerify from a strong-buy rating to a hold rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group cut their price target on DoubleVerify from $38.00 to $25.00 and set a buy rating for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $32.39.

DoubleVerify Stock Performance

Shares of DV stock opened at $21.14 on Wednesday. The company has a market cap of $3.63 billion, a P/E ratio of 55.62, a PEG ratio of 3.32 and a beta of 0.93. DoubleVerify has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The stock has a 50 day simple moving average of $19.36 and a two-hundred day simple moving average of $28.58.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. DoubleVerify had a net margin of 9.97% and a return on equity of 5.76%. The company had revenue of $155.89 million for the quarter, compared to the consensus estimate of $153.78 million. During the same quarter in the previous year, the company earned $0.07 EPS. DoubleVerify’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts predict that DoubleVerify will post 0.31 earnings per share for the current year.

DoubleVerify declared that its board has approved a share buyback program on Thursday, May 16th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify 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 owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated 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 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 three months, insiders sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in DoubleVerify by 2.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,632 shares of the company’s stock worth $3,959,000 after purchasing an additional 2,433 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in DoubleVerify by 12.8% in the fourth quarter. DAVENPORT & Co LLC now owns 505,944 shares of the company’s stock worth $18,609,000 after buying an additional 57,436 shares in the last quarter. Trust Point Inc. bought a new position in DoubleVerify during the fourth quarter valued at approximately $671,000. Arizona State Retirement System raised its stake in shares of DoubleVerify by 14.3% during the fourth quarter. Arizona State Retirement System now owns 35,175 shares of the company’s stock worth $1,294,000 after acquiring an additional 4,399 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in shares of DoubleVerify by 70.5% in the 4th quarter. Riverbridge Partners LLC now owns 2,319,975 shares of the company’s stock worth $85,329,000 after acquiring an additional 959,514 shares during 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.