BMO Capital Markets Trims DoubleVerify (NYSE:DV) Target Price to $28.00

DoubleVerify (NYSE:DV) had its price objective lowered by BMO Capital Markets from $38.00 to $28.00 in a research note published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

DV has been the topic of a number of other research reports. Truist Financial cut their price objective on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Stifel Nicolaus cut their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler cut their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday. JMP Securities cut their price objective on shares of DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating on the stock in a report on Wednesday. Finally, Macquarie cut their target price on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.06.

DoubleVerify Stock Performance

NYSE:DV opened at $17.35 on Friday. The stock has a 50-day simple moving average of $17.81 and a 200-day simple moving average of $20.43. The stock has a market cap of $2.98 billion, a P/E ratio of 45.66, a P/E/G ratio of 2.21 and a beta of 0.90. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $155.89 million during the quarter, compared to analysts’ expectations of $153.78 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. During the same period in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that DoubleVerify will post 0.3 EPS for the current year.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,820 shares of company stock worth $153,591 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. United Services Automobile Association raised its stake in DoubleVerify by 7.4% in the 2nd 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 last quarter. Whittier Trust Co. acquired a new position in DoubleVerify in the 1st quarter valued at about $28,000. Arizona State Retirement System raised its stake in DoubleVerify by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock valued at $793,000 after purchasing an additional 927 shares during the last quarter. Gagnon Securities LLC increased its stake in shares of 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 acquiring an additional 1,045 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after acquiring an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.