Piper Sandler Trims DoubleVerify (NYSE:DV) Target Price to $30.00

DoubleVerify (NYSE:DV) had its price target cut by equities research analysts at Piper Sandler from $40.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 62.25% from the stock’s current price.

A number of other brokerages have also recently issued reports on DV. Wells Fargo & Company decreased their price objective on shares of DoubleVerify from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on shares of DoubleVerify from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a report on Thursday, February 29th. Truist Financial decreased their price objective on shares of DoubleVerify from $39.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America cut their target price on shares of DoubleVerify from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.72.

DoubleVerify Price Performance

NYSE DV traded down $12.08 on Wednesday, hitting $18.49. 12,232,452 shares of the stock were exchanged, compared to its average volume of 1,943,564. The company’s 50-day moving average price is $32.06 and its two-hundred day moving average price is $34.35. DoubleVerify has a 52-week low of $17.74 and a 52-week high of $43.00. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 45.12, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last posted its quarterly 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. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The business had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.25 million. During the same period in the previous year, the company posted $0.07 EPS. DoubleVerify’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that DoubleVerify will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now directly 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 Trading of DoubleVerify

Several large investors have recently added to or reduced their stakes in DV. Shaker Investments LLC OH grew its stake in shares of DoubleVerify by 0.4% during the fourth quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock valued at $2,793,000 after purchasing an additional 280 shares during the last quarter. Assetmark Inc. grew its stake in shares of DoubleVerify by 15.1% during the third quarter. Assetmark Inc. now owns 3,279 shares of the company’s stock valued at $92,000 after purchasing an additional 430 shares during the last quarter. Huntington National Bank grew 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 valued at $42,000 after purchasing an additional 439 shares during the last quarter. Signaturefd LLC grew its stake in shares of DoubleVerify by 84.7% during the fourth 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. Finally, 1492 Capital Management LLC grew its stake in shares of DoubleVerify by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock valued at $2,074,000 after purchasing an additional 553 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.