DoubleVerify (NYSE:DV) Given Outperform Rating at Macquarie

Macquarie reiterated their outperform rating on shares of DoubleVerify (NYSE:DV) in a report released on Thursday,Benzinga reports. The firm currently has a $19.00 price objective on the stock.

Several other research firms have also recently commented on DV. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. Wells Fargo & Company began coverage on DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Morgan Stanley lifted their target price on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Truist Financial reduced their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus cut their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Performance

NYSE:DV traded down $0.38 on Thursday, reaching $19.34. The company’s stock had a trading volume of 5,072,400 shares, compared to its average volume of 2,382,317. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The business’s 50-day moving average price is $17.54 and its two-hundred day moving average price is $19.59. The firm has a market cap of $3.29 billion, a PE ratio of 56.33, a PEG ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last posted its earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. As a group, sell-side analysts expect that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify announced that its board has authorized a stock buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,056 shares of company stock worth $119,634 in the last ninety days. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of DoubleVerify during the 2nd quarter worth approximately $73,268,000. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify in the 2nd quarter valued at $54,099,000. Mackenzie Financial Corp bought a new position in shares of DoubleVerify in the 2nd quarter valued at $53,015,000. Jericho Capital Asset Management L.P. acquired a new position in shares of DoubleVerify during the 1st quarter worth $53,584,000. Finally, Capital International Investors lifted its position in shares of DoubleVerify by 104.7% during the 1st quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock worth $59,117,000 after buying an additional 859,922 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.