DoubleVerify’s (DV) “Buy” Rating Reiterated at Needham & Company LLC

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $45.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 29.65% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on DV. JMP Securities dropped their price target on DoubleVerify from $45.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 29th. Morgan Stanley started coverage on DoubleVerify in a research report on Wednesday, December 13th. They set an “overweight” rating and a $40.00 price objective on the stock. Bank of America lowered their price objective on DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. TheStreet upgraded DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Finally, Truist Financial lowered their price objective on DoubleVerify from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

DoubleVerify Price Performance

NYSE:DV traded up $1.80 during trading hours on Thursday, reaching $34.71. 1,497,676 shares of the stock were exchanged, compared to its average volume of 1,839,417. DoubleVerify has a twelve month low of $26.23 and a twelve month high of $43.00. The firm has a 50 day moving average of $37.65 and a 200 day moving average of $33.63. The stock has a market cap of $5.94 billion, a PE ratio of 84.54, a PEG ratio of 3.49 and a beta of 1.01.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $172.23 million during the quarter, compared to the consensus estimate of $171.85 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. Equities research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $33.45, for a total value of $177,017.40. Following the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at approximately $2,442,853.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the transaction, the insider now owns 137,668 shares in the company, valued at $4,171,340.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,480 shares of company stock valued at $2,086,690. Corporate insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently modified their holdings of the company. Bessemer Group Inc. bought a new position in DoubleVerify during the 2nd quarter worth approximately $26,000. Huntington National Bank grew its position in shares of DoubleVerify by 241.7% in the 2nd quarter. Huntington National Bank now owns 1,056 shares of the company’s stock worth $41,000 after buying an additional 747 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of DoubleVerify in the 4th quarter worth approximately $42,000. Signaturefd LLC grew its position in shares of DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after buying an additional 498 shares during the last quarter. Finally, Castleview Partners LLC purchased a new position in shares of DoubleVerify in the 2nd quarter valued at approximately $42,000. 97.29% of the stock is currently owned by institutional investors.

About DoubleVerify

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.