Piper Sandler Lowers DoubleVerify (NYSE:DV) Price Target to $21.00

DoubleVerify (NYSE:DV) had its price target dropped by analysts at Piper Sandler from $30.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 24.93% from the company’s current price.

Other analysts have also issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Barclays lowered their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. The Goldman Sachs Group cut their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Truist Financial reduced their price objective on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus dropped their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $29.65.

DoubleVerify Stock Up 3.5 %

DV stock opened at $16.81 on Wednesday. The company has a fifty day simple moving average of $17.84 and a two-hundred day simple moving average of $20.54. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The firm has a market capitalization of $2.89 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that DoubleVerify will post 0.3 EPS for the current year.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,410,013.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 8,820 shares of company stock worth $153,591. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. United Services Automobile Association lifted its position in DoubleVerify by 7.4% during the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after acquiring an additional 746 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of DoubleVerify in the 1st quarter worth $28,000. Arizona State Retirement System grew its stake in DoubleVerify by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after buying an additional 927 shares during the last quarter. Gagnon Securities LLC increased its position in DoubleVerify by 1.2% during the 1st quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after buying an additional 1,045 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in DoubleVerify by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after buying an additional 1,218 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.