DoubleVerify (NYSE:DV) Hits New 52-Week Low – What’s Next?

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.18 and last traded at $13.23, with a volume of 622530 shares changing hands. The stock had previously closed at $13.99.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley dropped their price objective on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Scotiabank assumed coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Stifel Nicolaus set a $20.00 target price on shares of DoubleVerify in a research report on Friday, February 28th. Finally, Bank of America upgraded DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, DoubleVerify currently has an average rating of “Hold” and an average target price of $22.00.

DoubleVerify Trading Down 5.3 %

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 35.80, a P/E/G ratio of 2.63 and a beta of 1.06. The company’s 50 day moving average is $18.65 and its 200-day moving average is $18.67.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently modified their holdings of the stock. Geneva Capital Management LLC grew its stake in DoubleVerify by 0.8% in the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after buying an additional 19,684 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of DoubleVerify during the third quarter worth approximately $794,000. Repertoire Partners LP grew its position in shares of DoubleVerify by 1,041.7% in the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after purchasing an additional 625,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DoubleVerify by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after purchasing an additional 10,696 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in DoubleVerify by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 973,147 shares of the company’s stock worth $18,694,000 after purchasing an additional 71,000 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.