DoubleVerify Holdings, Inc. (NYSE:DV) Given Average Recommendation of “Hold” by Brokerages

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have received an average recommendation of “Hold” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $13.5214.

A number of research analysts recently weighed in on the stock. Scotiabank lowered shares of DoubleVerify from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $15.00 to $13.60 in a report on Friday, August 7th. BMO Capital Markets set a $13.60 price target on shares of DoubleVerify in a research note on Friday, August 7th. Canaccord Genuity Group lowered shares of DoubleVerify from a “buy” rating to a “hold” rating and lowered their price objective for the company from $16.00 to $13.60 in a research report on Friday, August 7th. Raymond James Financial cut shares of DoubleVerify from an “outperform” rating to a “market perform” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada downgraded shares of DoubleVerify from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $14.00 to $13.60 in a report on Friday, August 7th.

DoubleVerify Trading Down 0.3%

Shares of DV stock opened at $13.39 on Friday. DoubleVerify has a 12-month low of $7.64 and a 12-month high of $13.65. 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 stock’s 50-day moving average price is $12.68 and its 200-day moving average price is $11.18. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The company had revenue of $193.79 million during the quarter, compared to analyst estimates of $202.23 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that DoubleVerify will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of DoubleVerify by 19.6% in the 2nd quarter. BlackRock Inc. now owns 23,152,508 shares of the company’s stock valued at $250,973,000 after purchasing an additional 3,799,956 shares during the last quarter. State Street Corp increased its position in shares of DoubleVerify by 23.3% during the 2nd quarter. State Street Corp now owns 5,375,150 shares of the company’s stock valued at $58,267,000 after purchasing an additional 1,014,027 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 buying an additional 363,005 shares during the period. Bank of America Corp DE purchased a new stake in DoubleVerify during the 2nd quarter valued at $31,333,000. Finally, Invenomic Capital Management LP lifted its position in DoubleVerify by 31.8% in the fourth quarter. Invenomic Capital Management LP now owns 2,383,935 shares of the company’s stock worth $27,272,000 after buying an additional 575,030 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

About DoubleVerify

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.