DoubleVerify (NYSE:DV) Price Target Cut to $23.00 by Analysts at Barclays

DoubleVerify (NYSE:DV - Free Report) had its price target lowered by Barclays from $27.00 to $23.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on DV. Macquarie reissued an outperform rating and set a $25.00 price target on shares of DoubleVerify in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an outperform rating and set a $40.00 price objective on shares of DoubleVerify in a research note on Friday, June 14th. Truist Financial decreased their target price on shares of DoubleVerify from $32.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Needham & Company LLC reaffirmed a buy rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group reissued a buy rating and issued a $28.00 price objective on shares of DoubleVerify in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, DoubleVerify has an average rating of Moderate Buy and an average price target of $30.59.

DoubleVerify Stock Performance

Shares of DV stock traded up $0.32 on Friday, reaching $17.08. The stock had a trading volume of 1,850,543 shares, compared to its average volume of 2,369,652. DoubleVerify has a 1 year low of $16.38 and a 1 year high of $43.00. The stock has a market cap of $2.90 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The company has a 50 day simple moving average of $18.20 and a 200 day simple moving average of $21.69.

DoubleVerify (NYSE:DV - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The business had revenue of $155.89 million for the quarter, compared to analysts' expectations of $153.78 million. During the same period last year, the firm posted $0.07 earnings per share. The business's revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company's stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 8,820 shares of company stock valued at $160,206. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoubleVerify

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company's stock worth $552,974,000 after purchasing an additional 216,370 shares during the period. Congress Asset Management Co. MA increased its stake in DoubleVerify by 813.2% in the first 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. Assenagon Asset Management S.A. bought a new stake in DoubleVerify during the 2nd quarter valued at about $73,268,000. Van Berkom & Associates Inc. grew its stake in DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company's stock worth $59,310,000 after purchasing an additional 626,586 shares in the last quarter. Finally, Burgundy Asset Management Ltd. bought a new position in shares of DoubleVerify during the 2nd quarter worth $54,099,000. 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.