DoubleVerify (NYSE:DV) Receives “Outperform” Rating from Macquarie

DoubleVerify (NYSE:DV)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a report issued on Thursday,Benzinga reports. They presently have a $19.00 target price on the stock. Macquarie’s price target would indicate a potential downside of 5.71% from the company’s previous close.

DV has been the subject of several other research reports. The Goldman Sachs Group dropped their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada reduced their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus decreased their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Barclays reduced their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.53.

DoubleVerify Stock Up 3.1 %

Shares of NYSE DV traded up $0.60 during midday trading on Thursday, reaching $20.15. 3,570,966 shares of the company were exchanged, compared to its average volume of 2,362,048. The stock’s 50-day moving average price is $17.54 and its 200-day moving average price is $19.59. The stock has a market cap of $3.43 billion, a P/E ratio of 57.03, a PEG ratio of 2.44 and a beta of 0.90. DoubleVerify has a one year low of $16.11 and a one year high of $43.00.

DoubleVerify (NYSE:DV) last issued its earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The business had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. On average, equities research analysts anticipate that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 7,056 shares of company stock worth $119,634. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of DoubleVerify during the 2nd quarter worth $73,268,000. Burgundy Asset Management Ltd. bought a new position in shares of DoubleVerify during the 2nd quarter valued at approximately $54,099,000. Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify during the 2nd quarter worth approximately $53,015,000. Jericho Capital Asset Management L.P. bought a new stake in shares of DoubleVerify in the 1st quarter worth approximately $53,584,000. Finally, Capital International Investors lifted its stake in DoubleVerify by 104.7% in the first quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock valued at $59,117,000 after purchasing an additional 859,922 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.