DoubleVerify (NYSE:DV) Hits New 52-Week High – Here’s What Happened

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price reached a new 52-week high on Monday . The company traded as high as $13.65 and last traded at $13.6050, with a volume of 11176552 shares traded. The stock had previously closed at $13.41.

Analyst Ratings Changes

Several brokerages recently issued reports on DV. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.60 target price on shares of DoubleVerify in a research report on Friday, August 21st. Royal Bank Of Canada downgraded DoubleVerify from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $14.00 to $13.60 in a report on Friday, August 7th. Raymond James Financial lowered DoubleVerify from an “outperform” rating to a “market perform” rating in a research note on Friday, August 7th. Wells Fargo & Company upgraded shares of DoubleVerify from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $8.00 to $13.60 in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of DoubleVerify from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, DoubleVerify currently has an average rating of “Hold” and an average target price of $13.52.

DoubleVerify Trading Up 1.2%

The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 1.46 and a beta of 0.99. The company has a fifty day moving average price of $12.42 and a 200-day moving average price of $11.01.

DoubleVerify (NYSE:DV) last posted its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $193.79 million during the quarter, compared to analysts’ expectations of $202.23 million. DoubleVerify had a net margin of 7.66% and a return on equity of 8.77%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. As a group, research analysts expect that DoubleVerify Holdings, Inc. will post 0.59 EPS for the current year.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in DoubleVerify by 122.4% during the second quarter. The Manufacturers Life Insurance Company now owns 68,027 shares of the company’s stock worth $737,000 after purchasing an additional 37,439 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of DoubleVerify in the second quarter valued at approximately $205,000. Nykredit A S purchased a new stake in shares of DoubleVerify in the second quarter valued at approximately $32,000. Corient Private Wealth LP raised its stake in shares of DoubleVerify by 102.6% during the 2nd quarter. Corient Private Wealth LP now owns 47,080 shares of the company’s stock worth $510,000 after buying an additional 23,839 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of DoubleVerify during the 2nd quarter valued at approximately $1,154,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides software and data analytics that help advertisers, agencies, publishers and digital media platforms measure and improve the quality and effectiveness of digital advertising. Its technology is designed to verify whether ads are delivered in appropriate environments, viewed by real users and displayed as intended across digital channels.

The company’s solutions address areas including viewability, fraud and invalid traffic, brand safety and suitability, media quality, campaign reach and performance.