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 to clients and investors on Monday,Benzinga reports. They presently have a $18.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 35.14% from the company’s previous close.

Several other brokerages have also weighed in on DV. The Goldman Sachs Group decreased their target price on shares of DoubleVerify from $20.00 to $15.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Robert W. Baird restated a “neutral” rating and issued a $14.00 price target (down from $20.00) on shares of DoubleVerify in a research report on Friday, March 28th. Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Finally, Barclays reduced their price target on shares of DoubleVerify from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

DoubleVerify Trading Down 5.7%

Shares of NYSE DV opened at $13.32 on Monday. The business has a fifty day simple moving average of $13.46 and a 200 day simple moving average of $17.71. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 2.63 and a beta of 1.03. DoubleVerify has a one year low of $11.52 and a one year high of $23.11.

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

Institutional Investors Weigh In On DoubleVerify

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of DoubleVerify by 5.6% during the first quarter. Vanguard Group Inc. now owns 18,466,076 shares of the company’s stock worth $246,891,000 after acquiring an additional 984,779 shares in the last quarter. Mackenzie Financial Corp grew its position in DoubleVerify by 1.6% in the first quarter. Mackenzie Financial Corp now owns 5,752,688 shares of the company’s stock valued at $76,913,000 after purchasing an additional 91,405 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after purchasing an additional 2,073,279 shares in the last quarter. AQR Capital Management LLC grew its position in DoubleVerify by 29.5% in the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock valued at $50,002,000 after purchasing an additional 592,435 shares in the last quarter. Finally, Geneva Capital Management LLC grew its position in DoubleVerify by 0.8% in the fourth quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after purchasing an additional 19,684 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.