DoubleVerify (NYSE:DV) Trading Up 4.6% – Should You Buy?

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price shot up 4.6% on Wednesday . The stock traded as high as $12.51 and last traded at $12.41. 479,012 shares changed hands during trading, a decline of 80% from the average session volume of 2,393,809 shares. The stock had previously closed at $11.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $14.00 target price (down from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. Canaccord Genuity Group reduced their target price on DoubleVerify from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Bank of America upgraded shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a report on Friday, February 28th. Barclays lowered their price objective on DoubleVerify from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley cut their price target on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Hold” and an average target price of $22.00.

DoubleVerify Stock Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The stock’s fifty day simple moving average is $17.34 and its two-hundred day simple moving average is $18.38.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in DoubleVerify by 168.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock valued at $30,000 after acquiring an additional 981 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after purchasing an additional 863 shares during the period. Quadrant Capital Group LLC boosted its position in shares of DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares in the last quarter. Versant Capital Management Inc acquired a new stake in DoubleVerify during the first quarter worth approximately $40,000. Finally, Allianz SE acquired a new stake in DoubleVerify during the fourth quarter worth approximately $41,000. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

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.