DoubleVerify (NYSE:DV) Lowered to Hold Rating by Zacks Research

DoubleVerify (NYSE:DV) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on DV. Royal Bank Of Canada lowered their target price on shares of DoubleVerify from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Barclays reiterated an “equal weight” rating and issued a $12.00 price objective on shares of DoubleVerify in a research note on Monday, January 12th. Morgan Stanley boosted their target price on DoubleVerify from $15.00 to $15.50 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Canaccord Genuity Group decreased their price target on DoubleVerify from $24.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of DoubleVerify in a research note on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.41.

DoubleVerify Stock Performance

Shares of DV opened at $11.10 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.98 and a quick ratio of 3.98. DoubleVerify has a one year low of $7.64 and a one year high of $23.11. The company has a market cap of $1.79 billion, a PE ratio of 44.38, a P/E/G ratio of 0.72 and a beta of 0.98. The stock has a 50-day moving average of $10.95 and a 200-day moving average of $12.50.

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, beating analysts’ consensus estimates of $0.09 by $0.13. The business had revenue of $188.62 million during the quarter, compared to the consensus estimate of $190.43 million. DoubleVerify had a return on equity of 6.59% and a net margin of 6.10%.The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, equities research analysts predict that DoubleVerify will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DV. TradeLink Capital LLC bought a new position in DoubleVerify in the 2nd quarter worth about $607,000. Gagnon Securities LLC grew its holdings in shares of DoubleVerify by 280.9% during the second quarter. Gagnon Securities LLC now owns 365,000 shares of the company’s stock worth $5,464,000 after purchasing an additional 269,170 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of DoubleVerify in the third quarter worth approximately $2,516,000. JPMorgan Chase & Co. raised its stake in DoubleVerify by 18.0% in the second quarter. JPMorgan Chase & Co. now owns 768,230 shares of the company’s stock valued at $11,500,000 after purchasing an additional 117,161 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in DoubleVerify by 58.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 136,978 shares of the company’s stock valued at $2,051,000 after purchasing an additional 50,306 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.