JPMorgan Chase & Co. Reaffirms Neutral Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “neutral” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a report issued on Friday,Benzinga reports. They currently have a $13.60 target price on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.18% from the company’s previous close.

DV has been the subject of a number of other reports. BMO Capital Markets set a $13.60 target price on DoubleVerify 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 report on Friday, August 7th. The Goldman Sachs Group raised their target price on shares of DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Truist Financial downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating and cut their price target for the stock from $16.00 to $13.60 in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DoubleVerify in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.95.

DoubleVerify Stock Up 0.2%

NYSE DV opened at $13.31 on Friday. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.01. DoubleVerify has a 1-year low of $7.64 and a 1-year high of $16.44. The company has a 50 day moving average of $11.54 and a 200-day moving average of $10.58. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.39 and a beta of 0.98.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The business had revenue of $193.79 million during the quarter, compared to analysts’ expectations of $202.23 million. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. On average, equities research analysts expect that DoubleVerify will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of DoubleVerify by 0.6% in the second quarter. California State Teachers Retirement System now owns 133,120 shares of the company’s stock valued at $1,993,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP lifted its stake in DoubleVerify by 2.5% in the 1st quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock worth $412,000 after purchasing an additional 762 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in DoubleVerify by 2.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 44,027 shares of the company’s stock valued at $504,000 after purchasing an additional 1,098 shares during the period. Hsbc Holdings PLC grew its position in shares of DoubleVerify by 1.5% during the 2nd quarter. Hsbc Holdings PLC now owns 77,453 shares of the company’s stock valued at $839,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of DoubleVerify by 4.1% in the fourth quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock worth $347,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

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.