Wells Fargo & Company Lowers DoubleVerify (NYSE:DV) Price Target to $8.00

DoubleVerify (NYSE:DV) had its price objective cut by stock analysts at Wells Fargo & Company from $9.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 9.86% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Barclays reiterated an “equal weight” rating and issued a $12.00 price objective on shares of DoubleVerify in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DoubleVerify in a report on Monday, April 20th. Royal Bank Of Canada decreased their price target on shares of DoubleVerify from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Wall Street Zen cut shares of DoubleVerify from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Finally, Morgan Stanley boosted their price objective on shares of DoubleVerify from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

DoubleVerify Price Performance

Shares of DV opened at $8.88 on Tuesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 26.89, a PEG ratio of 1.13 and a beta of 1.05. DoubleVerify has a one year low of $7.64 and a one year high of $16.82. The business has a fifty day moving average of $10.32 and a 200 day moving average of $10.52.

DoubleVerify (NYSE:DV) last posted its earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The firm 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 posted $0.13 EPS. Analysts expect that DoubleVerify will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleVerify

Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in shares of DoubleVerify by 42.3% in the first quarter. First Trust Advisors LP now owns 1,261,399 shares of the company’s stock worth $11,983,000 after purchasing an additional 374,962 shares during the period. Summit Global Investments bought a new stake in shares of DoubleVerify during the 1st quarter valued at $95,000. Dimensional Fund Advisors LP raised its position in shares of DoubleVerify by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,333,555 shares of the company’s stock valued at $41,169,000 after purchasing an additional 363,005 shares during the period. Parallel Advisors LLC lifted its stake in shares of DoubleVerify by 678.0% during the 1st quarter. Parallel Advisors LLC now owns 6,730 shares of the company’s stock valued at $64,000 after buying an additional 5,865 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in DoubleVerify in the 1st quarter worth $425,000. Hedge funds and other institutional investors 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.