DoubleVerify (NYSE:DV) Given New $16.00 Price Target at Scotiabank

DoubleVerify (NYSE:DV) had its target price decreased by analysts at Scotiabank from $24.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 52.89% from the stock’s previous close.

A number of other brokerages have also weighed in on DV. Royal Bank Of Canada dropped their price target on DoubleVerify from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group reissued a “neutral” rating and issued a $13.50 target price on shares of DoubleVerify in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DoubleVerify in a research note on Wednesday, October 8th. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of DoubleVerify in a report on Tuesday, September 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $27.00 target price (up previously from $26.00) on shares of DoubleVerify in a report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, DoubleVerify has a consensus rating of “Hold” and a consensus price target of $17.59.

DoubleVerify Stock Up 11.4%

Shares of DoubleVerify stock traded up $1.08 on Monday, reaching $10.47. The stock had a trading volume of 1,230,373 shares, compared to its average volume of 2,759,368. DoubleVerify has a 1 year low of $7.64 and a 1 year high of $23.11. The company has a 50 day moving average price of $12.27 and a 200 day moving average price of $13.89. The company has a quick ratio of 4.41, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.71 billion, a P/E ratio of 41.78, a P/E/G ratio of 1.42 and a beta of 0.98.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Friday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.13. The business had revenue of $188.62 million for the quarter, compared to analyst estimates of $190.43 million. DoubleVerify had a net margin of 6.10% and a return on equity of 6.59%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. DoubleVerify has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast that DoubleVerify will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other DoubleVerify news, insider Andrew E. Grimmig sold 4,096 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $12.99, for a total value of $53,207.04. Following the completion of the transaction, the insider owned 96,301 shares in the company, valued at approximately $1,250,949.99. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lucy Stamell Dobrin sold 6,392 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $14.51, for a total value of $92,747.92. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,488 shares of company stock worth $157,255 over the last three months. 3.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently added to or reduced their stakes in DV. Cooper Creek Partners Management LLC acquired a new stake in shares of DoubleVerify in the second quarter valued at about $38,325,000. SG Capital Management LLC purchased a new position in DoubleVerify in the 2nd quarter valued at about $33,642,000. Sunriver Management LLC acquired a new stake in DoubleVerify in the 1st quarter worth about $22,485,000. Federated Hermes Inc. increased its stake in DoubleVerify by 17,284.0% during the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company’s stock worth $22,245,000 after buying an additional 1,654,250 shares in the last quarter. Finally, Norges Bank purchased a new stake in DoubleVerify during the 2nd quarter worth approximately $23,640,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.