DoubleVerify (NYSE:DV) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of DoubleVerify (NYSE:DV) in a report issued on Friday, Benzinga reports. Needham & Company LLC currently has a $45.00 price target on the stock.

Several other research analysts have also commented on DV. Stephens reiterated an overweight rating and issued a $47.00 price target on shares of DoubleVerify in a research report on Tuesday, August 1st. Loop Capital raised their price objective on shares of DoubleVerify from $35.00 to $50.00 in a research note on Thursday, July 27th. Stifel Nicolaus raised their price objective on shares of DoubleVerify from $35.00 to $44.00 and gave the stock a buy rating in a research note on Friday, July 21st. KeyCorp decreased their price objective on shares of DoubleVerify from $45.00 to $41.00 and set an overweight rating for the company in a research note on Monday, September 11th. Finally, Piper Sandler decreased their price objective on shares of DoubleVerify from $45.00 to $40.00 and set an overweight rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $42.47.

DoubleVerify Trading Down 2.5 %

DV opened at $28.21 on Friday. The firm has a market cap of $4.72 billion, a P/E ratio of 94.03 and a beta of 0.94. DoubleVerify has a 12 month low of $20.38 and a 12 month high of $42.51. The stock has a 50-day moving average of $34.85 and a 200 day moving average of $32.70.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Monday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $133.74 million during the quarter, compared to analyst estimates of $133.39 million. DoubleVerify had a return on equity of 6.01% and a net margin of 10.64%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share. On average, research analysts forecast that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Vii U.S. Holdings L. Providence sold 12,419,952 shares of DoubleVerify stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $32.50, for a total transaction of $403,648,440.00. Following the transaction, the insider now directly owns 40,405,492 shares of the company’s stock, valued at $1,313,178,490. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Julie Eddleman sold 750 shares of DoubleVerify stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $37.99, for a total transaction of $28,492.50. Following the transaction, the insider now directly owns 130,871 shares of the company’s stock, valued at $4,971,789.29. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Vii U.S. Holdings L. Providence sold 12,419,952 shares of DoubleVerify stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $32.50, for a total transaction of $403,648,440.00. Following the transaction, the insider now directly owns 40,405,492 shares in the company, valued at $1,313,178,490. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,191,350 shares of company stock valued at $819,263,084. Corporate insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently bought and sold shares of DV. Bank of New York Mellon Corp grew its holdings in DoubleVerify by 17.6% in the first quarter. Bank of New York Mellon Corp now owns 2,712,377 shares of the company’s stock worth $81,778,000 after purchasing an additional 405,282 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in DoubleVerify in the first quarter worth $543,000. Louisiana State Employees Retirement System purchased a new position in DoubleVerify in the first quarter worth $1,043,000. Checchi Capital Advisers LLC grew its holdings in DoubleVerify by 33.2% in the first quarter. Checchi Capital Advisers LLC now owns 85,480 shares of the company’s stock worth $2,577,000 after purchasing an additional 21,328 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in DoubleVerify in the fourth quarter worth $56,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.