DoubleVerify (NYSE:DV) Rating Lowered to Sector Weight at KeyCorp

DoubleVerify (NYSE:DV) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued on Wednesday, Briefing.com reports.

Several other equities analysts also recently commented on the company. Royal Bank of Canada increased their target price on DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Truist Financial decreased their price target on shares of DoubleVerify from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. JMP Securities reduced their price objective on shares of DoubleVerify from $45.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price target (down previously from $44.00) on shares of DoubleVerify in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their price objective on DoubleVerify from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

DoubleVerify Stock Performance

NYSE:DV opened at $30.57 on Wednesday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 74.56, a PEG ratio of 3.24 and a beta of 1.11. DoubleVerify has a fifty-two week low of $26.23 and a fifty-two week high of $43.00. The stock has a fifty day moving average price of $32.28 and a 200-day moving average price of $34.34.

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

Insider Buying and Selling

In related news, insider Andrew E. Grimmig sold 50,924 shares of DoubleVerify stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $33.51, for a total value of $1,706,463.24. Following the sale, the insider now owns 39,468 shares of the company’s stock, valued at approximately $1,322,572.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew E. Grimmig sold 50,924 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the sale, the insider now directly owns 39,468 shares in the company, valued at approximately $1,322,572.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total transaction of $163,311.12. Following the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at approximately $2,253,705.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,531 shares of company stock worth $3,043,004. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DV. Whittier Trust Co. bought a new position in shares of DoubleVerify in the first quarter worth $28,000. GAMMA Investing LLC bought a new position in DoubleVerify in the 4th quarter worth about $42,000. Signaturefd LLC raised its holdings in shares of DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after acquiring an additional 498 shares in the last quarter. Guinness Atkinson Asset Management Inc bought a new stake in shares of DoubleVerify during the 3rd quarter valued at about $34,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of DoubleVerify by 65.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after purchasing an additional 587 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.