DoubleVerify (NYSE:DV) Hits New 52-Week Low on Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price reached a new 52-week low on Wednesday after Robert W. Baird lowered their price target on the stock from $42.00 to $34.00. Robert W. Baird currently has an outperform rating on the stock. DoubleVerify traded as low as $18.95 and last traded at $18.95, with a volume of 895023 shares traded. The stock had previously closed at $30.57.

A number of other analysts have also commented on the company. Wells Fargo & Company reduced their target price on DoubleVerify from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Needham & Company LLC dropped their price objective on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. JMP Securities decreased their price objective on shares of DoubleVerify from $45.00 to $40.00 and set a “market outperform” rating for the company in a report on Thursday, February 29th. Truist Financial decreased their target price on shares of DoubleVerify from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, TheStreet raised shares of DoubleVerify from a “d+” rating to a “c-” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Insider Activity at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the completion of the sale, the insider now directly owns 137,668 shares in the company, valued at $4,171,340.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Andrew E. Grimmig sold 16,667 shares of DoubleVerify stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the transaction, the insider now owns 39,468 shares in the company, valued at $1,334,018.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares in the company, valued at approximately $4,171,340.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,531 shares of company stock worth $3,043,004. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors have recently bought and sold shares of DV. Xponance Inc. boosted its stake in shares of DoubleVerify by 9.0% during the 3rd quarter. Xponance Inc. now owns 17,246 shares of the company’s stock worth $482,000 after acquiring an additional 1,418 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in DoubleVerify by 2.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 105,199 shares of the company’s stock valued at $2,940,000 after acquiring an additional 2,189 shares in the last quarter. Bank of New York Mellon Corp grew its stake in DoubleVerify by 39.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock worth $107,076,000 after buying an additional 1,082,615 shares during the last quarter. New York State Teachers Retirement System raised its stake in DoubleVerify by 176.4% in the 3rd quarter. New York State Teachers Retirement System now owns 92,238 shares of the company’s stock worth $2,578,000 after acquiring an additional 58,861 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DoubleVerify by 12.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,955 shares of the company’s stock valued at $558,000 after buying an additional 2,252 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

DoubleVerify Stock Down 41.7 %

The stock has a 50-day moving average price of $32.06 and a 200 day moving average price of $34.35. The firm has a market capitalization of $3.06 billion, a PE ratio of 74.56, a PEG ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. As a group, equities analysts predict that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current fiscal year.

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.