Summit Creek Advisors LLC cut its holdings in DoubleVerify Holdings, Inc. (NYSE:DV – Free Report) by 49.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,936 shares of the company’s stock after selling 169,307 shares during the quarter. Summit Creek Advisors LLC’s holdings in DoubleVerify were worth $1,907,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI acquired a new stake in shares of DoubleVerify during the second quarter worth about $128,000. BlackRock Inc. increased its position in 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 acquiring an additional 3,799,956 shares during the period. Deutsche Bank AG increased its position in DoubleVerify by 80.6% in the 2nd quarter. Deutsche Bank AG now owns 312,999 shares of the company’s stock valued at $3,393,000 after acquiring an additional 139,699 shares during the period. Bank of New York Mellon Corp raised its stake in DoubleVerify by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 784,928 shares of the company’s stock valued at $8,509,000 after acquiring an additional 69,086 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in DoubleVerify during the 2nd quarter worth approximately $135,000. 97.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Canaccord Genuity Group downgraded DoubleVerify from a “buy” rating to a “hold” rating and lowered their target price for the company from $16.00 to $13.60 in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d+)” rating on shares of DoubleVerify in a research note on Friday, July 17th. Nomura set a $13.60 price target on DoubleVerify in a report on Friday, August 7th. Truist Financial 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. Finally, The Goldman Sachs Group boosted their price objective on shares of DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.18.
DoubleVerify Price Performance
Shares of DV opened at $13.28 on Wednesday. DoubleVerify Holdings, Inc. has a twelve month low of $7.64 and a twelve month high of $16.44. The stock’s 50 day moving average is $11.42 and its two-hundred day moving average is $10.54. The firm has a market capitalization of $2.06 billion, a PE ratio of 36.88, a P/E/G ratio of 1.59 and a beta of 0.97. 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 (NYSE:DV – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. The company had revenue of $193.79 million for 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 quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.53 earnings per share for the current year.
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.
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