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

Macquarie reissued their outperform rating on shares of DoubleVerify (NYSE:DV) in a research note released on Thursday,Benzinga reports. Macquarie currently has a $19.00 price objective on the stock.

DV has been the subject of several other reports. Piper Sandler reduced their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on shares of DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Morgan Stanley increased their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Barclays lowered their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, BMO Capital Markets reduced their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Down 1.9 %

Shares of NYSE:DV traded down $0.38 on Thursday, reaching $19.34. The company had a trading volume of 5,072,400 shares, compared to its average volume of 2,382,317. The stock has a market capitalization of $3.29 billion, a P/E ratio of 56.33, a P/E/G ratio of 2.44 and a beta of 0.90. The stock has a 50-day moving average price of $17.54 and a 200 day moving average price of $19.59. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $169.56 million for the quarter, compared to analyst estimates of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. On average, sell-side analysts predict that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

DoubleVerify announced that its board has approved a share buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,380,638.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 7,056 shares of company stock valued at $119,634 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in shares of DoubleVerify by 62.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after buying an additional 45,689 shares during the period. Vanguard Group Inc. grew its stake in shares of DoubleVerify by 1.4% during the first 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. Swiss National Bank increased its holdings in DoubleVerify by 15.4% in the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock valued at $10,063,000 after purchasing an additional 38,200 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in DoubleVerify by 22.0% in the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after buying an additional 33,003 shares during the period. Finally, NWI Management LP bought a new position in DoubleVerify during the first quarter worth about $1,758,000. Institutional investors and hedge funds 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.