DoubleVerify (NYSE:DV) Reaches New 12-Month Low – What’s Next?

DoubleVerify Holdings, Inc. (NYSE:DV) shares hit a new 52-week low on Thursday . The company traded as low as $12.51 and last traded at $12.65, with a volume of 6121 shares traded. The stock had previously closed at $13.39.

Wall Street Analyst Weigh In

A number of analysts have commented on DV shares. Baird R W cut shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 28th. Robert W. Baird reiterated a “neutral” rating and issued a $14.00 target price (down from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. Loop Capital cut DoubleVerify from a “buy” rating to a “hold” rating and reduced their price target for the stock from $24.00 to $16.00 in a report on Tuesday, March 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of DoubleVerify in a research note on Friday, February 28th. Finally, Royal Bank of Canada lifted their target price on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.00.

DoubleVerify Price Performance

The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.63 and a beta of 1.06. The stock has a 50-day moving average of $18.15 and a 200-day moving average of $18.56.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of DoubleVerify by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock worth $335,816,000 after buying an additional 143,773 shares in the last quarter. Mackenzie Financial Corp boosted its position in DoubleVerify by 20.1% in the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after buying an additional 948,529 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in shares of DoubleVerify by 73.2% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after buying an additional 2,073,279 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of DoubleVerify by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock worth $50,002,000 after buying an additional 592,435 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its stake in shares of DoubleVerify by 0.8% in the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after acquiring an additional 19,684 shares during the last quarter. 97.29% of the stock is currently owned by 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.