Barclays Cuts DoubleVerify (NYSE:DV) Price Target to $30.00

DoubleVerify (NYSE:DV) had its target price dropped by investment analysts at Barclays from $40.00 to $30.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 62.43% from the company’s previous close.

Several other research firms have also recently issued reports on DV. JMP Securities decreased their price objective on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price 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. Stifel Nicolaus reduced their price target on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America lowered their target price on shares of DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $42.00 price target (down previously from $44.00) on shares of DoubleVerify in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

DoubleVerify Stock Performance

Shares of DoubleVerify stock traded down $12.10 during trading hours on Wednesday, hitting $18.47. The company’s stock had a trading volume of 18,200,519 shares, compared to its average volume of 2,003,978. DoubleVerify has a twelve month low of $17.74 and a twelve month high of $43.00. The firm has a fifty day moving average of $32.06 and a 200-day moving average of $34.35. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 44.49, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last issued 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. The company had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. On average, sell-side analysts expect that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 5,364 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $32.80, for a total value of $175,939.20. Following the completion of the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at $2,395,384. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the transaction, the insider now owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Nicola T. Allais sold 5,364 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.80, for a total value of $175,939.20. Following the completion of the sale, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,395,384. The disclosure for this sale can be found here. Insiders have sold a total of 91,531 shares of company stock worth $3,043,004 in the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Hedge funds have recently modified their holdings of the stock. Whittier Trust Co. acquired a new stake in DoubleVerify in the first quarter valued at approximately $28,000. Guinness Atkinson Asset Management Inc acquired a new stake in DoubleVerify during the 3rd quarter valued at $34,000. Signaturefd LLC increased its stake in DoubleVerify by 84.7% during the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after buying an additional 498 shares during the period. Huntington National Bank lifted its holdings in DoubleVerify by 41.6% in the 3rd quarter. Huntington National Bank now owns 1,495 shares of the company’s stock worth $42,000 after buying an additional 439 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in DoubleVerify in the 4th quarter valued at about $42,000. 97.29% of the stock is currently owned by hedge funds and other 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.