DoubleVerify (NYSE:DV) Stock Rating Lowered by Zacks Research

DoubleVerify (NYSE:DV) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Stifel Nicolaus decreased their target price on DoubleVerify from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Needham & Company LLC reduced their price objective on DoubleVerify from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, November 10th. The Goldman Sachs Group restated a “neutral” rating and issued a $13.50 price objective on shares of DoubleVerify in a research note on Tuesday, October 14th. Morgan Stanley boosted their target price on shares of DoubleVerify from $15.00 to $15.50 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Barclays reissued an “equal weight” rating and issued a $12.00 price target on shares of DoubleVerify in a report on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.41.

DoubleVerify Trading Up 1.1%

NYSE:DV opened at $11.10 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $10.95 and its 200-day moving average is $12.50. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 44.38, a P/E/G ratio of 0.72 and a beta of 0.98. DoubleVerify has a 12 month low of $7.64 and a 12 month high of $23.11.

DoubleVerify (NYSE:DV) last announced its earnings results on Friday, November 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.09 by $0.13. DoubleVerify had a net margin of 6.10% and a return on equity of 6.59%. The firm had revenue of $188.62 million for the quarter, compared to the consensus estimate of $190.43 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that DoubleVerify will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DV. Baird Financial Group Inc. acquired a new stake in DoubleVerify during the first quarter valued at approximately $154,000. Woodline Partners LP boosted its stake in DoubleVerify by 2.5% in the 1st quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock valued at $412,000 after buying an additional 762 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in DoubleVerify by 10.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company’s stock valued at $6,174,000 after acquiring an additional 43,343 shares during the period. Farther Finance Advisors LLC grew its position in DoubleVerify by 3,035.6% in the second quarter. Farther Finance Advisors LLC now owns 3,167 shares of the company’s stock valued at $47,000 after acquiring an additional 3,066 shares during the period. Finally, GAMMA Investing LLC raised its stake in DoubleVerify by 176.7% during the second quarter. GAMMA Investing LLC now owns 3,414 shares of the company’s stock worth $51,000 after acquiring an additional 2,180 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.