DoubleVerify (NYSE:DV) Given New $40.00 Price Target at Canaccord Genuity Group

DoubleVerify (NYSE:DV) had its target price cut by Canaccord Genuity Group from $48.00 to $40.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

DV has been the topic of several other research reports. Truist Financial lowered their target price on shares of DoubleVerify from $39.00 to $32.00 and set a buy rating on the stock in a research note on Wednesday. Macquarie upgraded shares of DoubleVerify from a neutral rating to an outperform rating and set a $40.00 price objective on the stock in a research report on Monday, March 11th. KeyCorp lowered DoubleVerify from an overweight rating to a sector weight rating in a report on Wednesday. JMP Securities lowered their price target on DoubleVerify from $45.00 to $40.00 and set a market outperform rating on the stock in a report on Thursday, February 29th. Finally, TheStreet upgraded DoubleVerify from a d+ rating to a c- rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $35.05.

DoubleVerify Price Performance

DV traded up $0.06 on Wednesday, reaching $18.84. The company’s stock had a trading volume of 7,987,461 shares, compared to its average volume of 2,103,979. The business’s 50 day moving average is $31.65 and its 200 day moving average is $34.25. DoubleVerify has a 1 year low of $17.74 and a 1 year high of $43.00. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 45.39, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. As a group, research analysts forecast that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the completion of the sale, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Nicola T. Allais sold 5,364 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.80, for a total transaction of $175,939.20. Following the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at $2,395,384. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the completion of the sale, the insider now owns 137,668 shares in the company, valued at approximately $4,171,340.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,431 shares of company stock worth $3,070,904. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of 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 in the last quarter. Capital World Investors increased its holdings in shares of DoubleVerify by 6.0% during the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock worth $194,343,000 after purchasing an additional 301,011 shares during the period. Congress Asset Management Co. MA raised its position in shares of DoubleVerify by 813.2% in the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after buying an additional 3,577,575 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of DoubleVerify by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company’s stock valued at $107,076,000 after buying an additional 1,082,615 shares during the period. Finally, Geneva Capital Management LLC grew its position in DoubleVerify by 44.9% during the first quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock worth $96,581,000 after buying an additional 851,346 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.