Bank of America Downgrades DoubleVerify (NYSE:DV) to Underperform

DoubleVerify (NYSE:DV) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a report released on Thursday, Briefing.com reports. They presently have a $18.00 price target on the stock, down from their prior price target of $45.00. Bank of America‘s price target would indicate a potential downside of 4.10% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company reduced their price objective on DoubleVerify from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Truist Financial lowered their price objective on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus decreased their target price on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price objective on DoubleVerify from $49.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.05.

DoubleVerify Stock Down 38.6 %

Shares of DoubleVerify stock opened at $18.77 on Thursday. The business has a fifty day simple moving average of $31.65 and a 200-day simple moving average of $34.25. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 45.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. DoubleVerify has a fifty-two week low of $17.74 and a fifty-two week high of $43.00.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. Analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total transaction of $163,311.12. Following the completion of the transaction, the chief financial officer now owns 73,030 shares in the company, valued at approximately $2,253,705.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Nicola T. Allais sold 5,292 shares of DoubleVerify stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total transaction of $163,311.12. Following the completion of the transaction, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at approximately $2,253,705.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the completion of the transaction, the insider now owns 137,668 shares in the company, valued at $4,171,340.40. The disclosure for this sale can be found here. Insiders sold 91,531 shares of company stock valued at $3,043,004 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds have recently added to or reduced their stakes in DV. Whittier Trust Co. acquired a new position in shares of DoubleVerify during the first quarter valued at $28,000. Guinness Atkinson Asset Management Inc acquired a new position in DoubleVerify during the 3rd quarter valued at about $34,000. Signaturefd LLC boosted its stake in shares of DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after purchasing an additional 498 shares during the last quarter. Huntington National Bank raised its stake in shares of DoubleVerify by 41.6% during the third quarter. Huntington National Bank now owns 1,495 shares of the company’s stock worth $42,000 after buying an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in DoubleVerify in the fourth quarter valued at approximately $42,000. Institutional investors 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.