Truist Financial Cuts DoubleVerify (NYSE:DV) Price Target to $32.00

DoubleVerify (NYSE:DV) had its target price lowered by stock analysts at Truist Financial from $39.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 69.49% from the company’s previous close.

A number of other research analysts have also issued reports on DV. Royal Bank of Canada upped their target price on shares of DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Needham & Company LLC decreased their target price on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. KeyCorp downgraded DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday. Bank of America lowered their price objective on DoubleVerify from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Robert W. Baird reduced their target price on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.28.

DoubleVerify Stock Down 38.2 %

Shares of DoubleVerify stock traded down $11.69 during trading on Wednesday, hitting $18.88. 6,005,206 shares of the company were exchanged, compared to its average volume of 1,864,801. DoubleVerify has a fifty-two week low of $17.74 and a fifty-two week high of $43.00. The firm has a 50 day moving average price of $32.06 and a 200 day moving average price of $34.35. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 44.88, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last released its quarterly earnings results 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. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The company had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. During the same quarter last year, the business posted $0.07 earnings per share. DoubleVerify’s revenue was up 14.8% compared to the same quarter last year. Analysts predict that DoubleVerify will post 0.36 earnings per share for the current year.

Insider Buying and Selling at DoubleVerify

In related news, insider Andrew E. Grimmig sold 50,924 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the transaction, the insider now directly owns 39,468 shares of the company’s stock, valued at approximately $1,322,572.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Andrew E. Grimmig sold 50,924 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares of the company’s stock, valued at approximately $1,322,572.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Julie Eddleman sold 900 shares of the business’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 transaction, 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. Insiders have sold 91,531 shares of company stock valued at $3,043,004 over the last three months. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE raised its holdings in DoubleVerify by 186.8% in the first quarter. US Bancorp DE now owns 93,381 shares of the company’s stock valued at $3,283,000 after acquiring an additional 60,824 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of DoubleVerify by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock worth $6,443,000 after purchasing an additional 33,003 shares during the last quarter. AMJ Financial Wealth Management raised its stake in shares of DoubleVerify by 76.7% in the 1st quarter. AMJ Financial Wealth Management now owns 82,487 shares of the company’s stock valued at $2,900,000 after purchasing an additional 35,799 shares in the last quarter. Sei Investments Co. lifted its position in shares of DoubleVerify by 3.1% during the first quarter. Sei Investments Co. now owns 459,850 shares of the company’s stock worth $16,168,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Swiss National Bank grew its stake in DoubleVerify by 15.4% in the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock worth $10,063,000 after purchasing an additional 38,200 shares in the last quarter. 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.