DoubleVerify’s (DV) “Buy” Rating Reaffirmed at Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $18.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 35.14% from the company’s current price.

A number of other research firms have also commented on DV. Stifel Nicolaus decreased their price objective on shares of DoubleVerify from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Cannonball Research downgraded shares of DoubleVerify to a “neutral” rating in a research report on Sunday, March 2nd. Morgan Stanley cut their target price on shares of DoubleVerify from $18.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group cut their target price on shares of DoubleVerify from $20.00 to $15.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Raymond James cut their target price on shares of DoubleVerify from $22.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

DoubleVerify Stock Performance

DoubleVerify stock opened at $13.32 on Monday. The company has a 50 day moving average price of $13.46 and a 200 day moving average price of $17.71. DoubleVerify has a 52 week low of $11.52 and a 52 week high of $23.11. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 2.63 and a beta of 1.03.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). DoubleVerify had a return on equity of 5.99% and a net margin of 10.33%. The firm had revenue of $165.06 million during the quarter, compared to analyst estimates of $153.07 million. During the same period in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts forecast that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DV. Burgundy Asset Management Ltd. grew its stake in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after buying an additional 2,073,279 shares during the last quarter. Norges Bank acquired a new stake in DoubleVerify in the 4th quarter worth $33,957,000. Federated Hermes Inc. grew its position in DoubleVerify by 17,284.0% in the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company’s stock worth $22,245,000 after purchasing an additional 1,654,250 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in DoubleVerify in the 4th quarter worth $31,579,000. Finally, Alta Fox Capital Management LLC acquired a new stake in DoubleVerify in the 4th quarter worth $24,267,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.