The Goldman Sachs Group Reiterates Buy Rating for DoubleVerify (NYSE:DV)

The Goldman Sachs Group restated their buy rating on shares of DoubleVerify (NYSE:DV) in a report issued on Friday, Benzinga reports. The Goldman Sachs Group currently has a $28.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC restated a buy rating and set a $33.00 price objective on shares of DoubleVerify in a research note on Wednesday, July 31st. Royal Bank of Canada restated an outperform rating and set a $40.00 price objective on shares of DoubleVerify in a report on Friday, June 14th. Macquarie restated an outperform rating and set a $25.00 price objective on shares of DoubleVerify in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on DoubleVerify from $21.00 to $22.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Finally, Barclays lowered their price target on DoubleVerify from $30.00 to $27.00 and set an overweight rating for the company in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $31.53.

DoubleVerify Stock Performance

DV opened at $17.09 on Friday. DoubleVerify has a 1 year low of $16.93 and a 1 year high of $43.00. The company’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $23.48. The stock has a market capitalization of $2.94 billion, a PE ratio of 44.97, a P/E/G ratio of 2.40 and a beta of 0.92.

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

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the completion of the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at $1,558,650.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,292 shares of company stock worth $104,835 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently made changes to their positions in the business. 1492 Capital Management LLC grew its position in shares of DoubleVerify by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after purchasing an additional 553 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of DoubleVerify by 65.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after purchasing an additional 587 shares during the last quarter. United Services Automobile Association boosted its stake in shares of 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 purchasing an additional 746 shares during the period. Whittier Trust Co. bought a new position in shares of DoubleVerify in the first quarter worth about $28,000. Finally, Insight Wealth Strategies LLC increased its stake in DoubleVerify by 1.3% in the 1st quarter. Insight Wealth Strategies LLC now owns 61,883 shares of the company’s stock worth $2,176,000 after buying an additional 810 shares during the period. 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.