DoubleVerify (NYSE:DV) Rating Increased to Equal Weight at Wells Fargo & Company

DoubleVerify (NYSE:DV) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a $13.60 price target on the stock, up from their prior price target of $8.00. Wells Fargo & Company‘s target price would indicate a potential upside of 15.79% from the stock’s current price.

A number of other research firms also recently issued reports on DV. BMO Capital Markets set a $13.60 price target on shares of DoubleVerify in a research note on Friday. Royal Bank Of Canada downgraded shares of DoubleVerify from an “outperform” rating to a “sector perform” rating and set a $13.60 target price on the stock. in a report on Friday. Nomura set a $13.60 target price on shares of DoubleVerify in a research report on Friday. Canaccord Genuity Group restated a “hold” rating and set a $13.60 target price (down from $16.00) on shares of DoubleVerify in a research report on Friday. Finally, The Goldman Sachs Group lifted their price target on DoubleVerify from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DoubleVerify has an average rating of “Hold” and an average price target of $14.18.

DoubleVerify Stock Performance

DV stock opened at $11.74 on Friday. The firm has a fifty day moving average price of $10.95 and a 200 day moving average price of $10.41. DoubleVerify has a fifty-two week low of $7.64 and a fifty-two week high of $16.44. The firm has a market cap of $1.80 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DV. California State Teachers Retirement System raised its stake in shares of DoubleVerify by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 133,120 shares of the company’s stock valued at $1,993,000 after buying an additional 754 shares during the last quarter. Woodline Partners LP boosted its stake in shares of DoubleVerify by 2.5% in the first quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock worth $412,000 after buying an additional 762 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of DoubleVerify by 2.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 44,027 shares of the company’s stock worth $504,000 after buying an additional 1,098 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in DoubleVerify by 4.1% during the fourth quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock worth $347,000 after acquiring an additional 1,200 shares during the period. Finally, Xponance LLC grew its holdings in DoubleVerify by 9.9% during the fourth quarter. Xponance LLC now owns 14,141 shares of the company’s stock worth $162,000 after acquiring an additional 1,275 shares during the period. Institutional investors own 97.29% of the company’s stock.

More DoubleVerify News

Here are the key news stories impacting DoubleVerify this week:

• Positive Sentiment: Nielsen acquisition provides a valuation catalyst. Nielsen will acquire DoubleVerify in an all-cash transaction with an enterprise value of approximately $2.15 billion, or $13.60 per share. The deal gives shareholders a defined cash value and is the primary reason the stock increased following the announcement. Closing remains subject to customary conditions and approvals. Nielsen to Acquire DoubleVerify
• Neutral Sentiment: The transaction combines two media-intelligence businesses. Nielsen intends to integrate DoubleVerify’s media-quality verification, ad-performance optimization and campaign-outcome tools with its audience measurement and data platform. The strategic rationale could support the deal’s completion, but shareholders may focus on the premium and merger terms until closing. Nielsen to Buy DoubleVerify
• Negative Sentiment: Second-quarter revenue trailed expectations. DoubleVerify reported revenue of $193.8 million, below the approximately $202.2 million analyst estimate, although revenue increased 2.5% year over year. Adjusted earnings of $0.22 per share improved from $0.05 a year earlier but missed the Zacks consensus estimate of $0.25; another estimate cited by MarketBeat was $0.11, which the company exceeded. The mixed results suggest continued pressure on organic growth. DoubleVerify Q2 Earnings and Revenues Miss Estimates
• Negative Sentiment: Shareholder investigations could complicate the deal. Ademi LLP and Halper Sadeh LLC are investigating whether DoubleVerify’s board obtained a fair price and fulfilled its fiduciary duties. Such inquiries are common in announced acquisitions, but they can create litigation, delay or renegotiation risks. Shareholder Alert

About DoubleVerify

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.