Piper Sandler Lowers DoubleVerify (NYSE:DV) Price Target to $30.00

DoubleVerify (NYSE:DV) had its target price cut by equities research analysts at Piper Sandler from $40.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 62.25% from the stock’s current price.

A number of other research analysts have also issued reports on DV. Macquarie upgraded shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Monday, March 11th. Barclays lowered their price target on shares of DoubleVerify from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Royal Bank of Canada boosted their target price on shares of DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Wells Fargo & Company dropped their target price on shares of DoubleVerify from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.72.

DoubleVerify Price Performance

DV stock traded down $12.08 during midday trading on Wednesday, reaching $18.49. The company had a trading volume of 12,232,452 shares, compared to its average volume of 1,943,564. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. DoubleVerify has a 1-year low of $17.74 and a 1-year high of $43.00. The stock has a 50 day moving average price of $32.06 and a 200-day moving average price of $34.35.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current year.

Insider Transactions at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Andrew E. Grimmig sold 50,924 shares of the 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 transaction, the insider now directly owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now directly owns 137,668 shares in the company, valued at $4,171,340.40. The disclosure for this sale can be found here. Insiders have sold 91,531 shares of company stock valued at $3,043,004 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA grew its holdings in shares of DoubleVerify by 813.2% during the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after purchasing an additional 3,577,575 shares during the period. Vanguard Group Inc. boosted its stake in DoubleVerify by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after buying an additional 2,017,687 shares during the period. Norges Bank acquired a new stake in shares of DoubleVerify during the fourth quarter valued at about $58,477,000. Brown Capital Management LLC raised its stake in shares of DoubleVerify by 128.1% in the 4th quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company’s stock valued at $82,257,000 after acquiring an additional 1,256,195 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of DoubleVerify by 39.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock worth $107,076,000 after acquiring an additional 1,082,615 shares during the last quarter. Hedge funds and other 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.