DoubleVerify (NYSE:DV) Shares Up 5.4% – Here’s What Happened

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) shot up 5.4% during mid-day trading on Friday . The company traded as high as $9.01 and last traded at $9.0740. 291,868 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,673,025 shares. The stock had previously closed at $8.61.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DV. Raymond James Financial reaffirmed an “outperform” rating and issued a $14.00 target price on shares of DoubleVerify in a report on Thursday, May 7th. The Goldman Sachs Group upped their target price on shares of DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Royal Bank Of Canada dropped their target price on shares of DoubleVerify from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a report on Monday, April 20th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

DoubleVerify Stock Performance

The stock has a market capitalization of $1.39 billion, a P/E ratio of 27.44, a PEG ratio of 1.01 and a beta of 1.05. The company’s fifty day simple moving average is $10.29 and its two-hundred day simple moving average is $10.49.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $205.59 million during the quarter, compared to the consensus estimate of $208.77 million. DoubleVerify had a net margin of 7.16% and a return on equity of 7.98%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. On average, research analysts predict that DoubleVerify Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pale Fire Capital SE acquired a new position in shares of DoubleVerify during the 1st quarter worth approximately $1,050,000. Caxton Associates LLP grew its position in shares of DoubleVerify by 32.1% during the 1st quarter. Caxton Associates LLP now owns 73,725 shares of the company’s stock worth $700,000 after purchasing an additional 17,914 shares in the last quarter. Bank of Nova Scotia grew its position in shares of DoubleVerify by 17.3% during the 1st quarter. Bank of Nova Scotia now owns 160,928 shares of the company’s stock worth $1,529,000 after purchasing an additional 23,723 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of DoubleVerify during the 1st quarter worth approximately $234,000. Finally, State of Wyoming grew its position in shares of DoubleVerify by 19.3% during the 1st quarter. State of Wyoming now owns 36,821 shares of the company’s stock worth $350,000 after purchasing an additional 5,947 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

About DoubleVerify

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.