BMO Capital Markets Cuts DoubleVerify (NYSE:DV) Price Target to $38.00

DoubleVerify (NYSE:DV) had its price target reduced by BMO Capital Markets from $42.00 to $38.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 103.97% from the company’s current price.

A number of other equities analysts have also weighed in on DV. JMP Securities lowered their price target on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price objective on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Bank of America downgraded DoubleVerify from a “buy” rating to an “underperform” rating and cut their target price for the stock from $45.00 to $18.00 in a research note on Thursday. Canaccord Genuity Group reduced their target price on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Macquarie upgraded shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.05.

DoubleVerify Stock Performance

DoubleVerify stock traded down $0.15 during trading on Thursday, reaching $18.63. The company had a trading volume of 3,795,706 shares, compared to its average volume of 2,056,122. The firm has a market capitalization of $3.20 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. The firm’s 50-day simple moving average is $31.65 and its 200 day simple moving average is $34.25. DoubleVerify has a 1-year low of $17.74 and a 1-year high of $43.00.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The firm had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. During the same period last year, the company posted $0.07 EPS. DoubleVerify’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that DoubleVerify will post 0.36 EPS for the current year.

Insider Transactions at DoubleVerify

In related news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the transaction, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Nicola T. Allais sold 5,364 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $32.80, for a total transaction of $175,939.20. Following the transaction, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,395,384. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,531 shares of company stock worth $3,043,004. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

A number of institutional investors have recently added to or reduced their stakes in DV. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DoubleVerify by 16,577.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,187 shares of the company’s stock worth $1,097,000 after acquiring an additional 31,000 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in DoubleVerify by 351.8% during the first quarter. Motley Fool Asset Management LLC now owns 118,226 shares of the company’s stock worth $4,157,000 after acquiring an additional 92,061 shares during the last quarter. Motley Fool Wealth Management LLC acquired a new position in DoubleVerify in the 1st quarter valued at $5,794,000. US Bancorp DE grew its stake in shares of DoubleVerify by 186.8% in the first quarter. US Bancorp DE now owns 93,381 shares of the company’s stock worth $3,283,000 after purchasing an additional 60,824 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of DoubleVerify by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after purchasing an additional 33,003 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.