DoubleVerify (NYSE:DV) Stock Price Down 3.8%

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price fell 3.8% on Thursday . The stock traded as low as $17.24 and last traded at $17.25. 1,121,929 shares were traded during mid-day trading, a decline of 52% from the average session volume of 2,321,964 shares. The stock had previously closed at $17.94.

Analyst Upgrades and Downgrades

Several analysts have commented on DV shares. Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research note on Wednesday, July 31st. Barclays lowered their price target on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Morgan Stanley lifted their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of DoubleVerify in a research note on Friday, June 14th. Finally, Macquarie reiterated an “outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.53.

DoubleVerify Stock Performance

The company has a 50 day moving average of $19.42 and a 200-day moving average of $23.81. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 45.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92.

DoubleVerify (NYSE:DV) last issued its quarterly 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. The business had revenue of $155.89 million for the quarter, compared to analysts’ expectations of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.3 EPS for the current year.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $19.25, for a total transaction of $33,957.00. Following the sale, the chief financial officer now owns 77,314 shares in the company, valued at approximately $1,488,294.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 5,292 shares of company stock worth $104,835 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cim LLC lifted its holdings in DoubleVerify by 74.8% during the 2nd quarter. Cim LLC now owns 48,533 shares of the company’s stock worth $926,000 after buying an additional 20,770 shares during the last quarter. Cetera Investment Advisers lifted its stake in DoubleVerify by 17.6% during the second quarter. Cetera Investment Advisers now owns 148,396 shares of the company’s stock worth $2,889,000 after purchasing an additional 22,244 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in DoubleVerify in the second quarter valued at approximately $230,000. Silver Lake Advisory LLC purchased a new position in DoubleVerify in the second quarter valued at approximately $202,000. Finally, Algert Global LLC acquired a new stake in DoubleVerify during the second quarter worth approximately $2,912,000. Institutional investors and hedge funds 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.