DoubleVerify Holdings, Inc. (NYSE:DV) Sees Large Growth in Short Interest

DoubleVerify Holdings, Inc. (NYSE:DV) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 10,000,327 shares, an increase of 14.2% from the March 31st total of 8,755,427 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average daily trading volume, of 2,834,229 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently modified their holdings of the business. Diversified Investment Strategies LLC purchased a new position in shares of DoubleVerify during the 1st quarter worth $3,246,000. HB Wealth Management LLC purchased a new position in shares of DoubleVerify during the 1st quarter worth $137,000. New York State Teachers Retirement System grew its holdings in shares of DoubleVerify by 10.2% during the 1st quarter. New York State Teachers Retirement System now owns 90,990 shares of the company’s stock worth $864,000 after purchasing an additional 8,450 shares during the period. Optas LLC purchased a new position in shares of DoubleVerify during the 1st quarter worth $243,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of DoubleVerify by 23.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 108,347 shares of the company’s stock worth $1,029,000 after purchasing an additional 20,381 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

DoubleVerify Stock Up 0.4%

Shares of NYSE:DV opened at $11.01 on Friday. The stock has a market cap of $1.73 billion, a P/E ratio of 36.68, a PEG ratio of 1.24 and a beta of 0.99. DoubleVerify has a 52-week low of $7.64 and a 52-week high of $16.82. The business has a fifty day moving average of $10.19 and a two-hundred day moving average of $10.56.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $205.59 million for the quarter, compared to analysts’ expectations of $208.77 million. DoubleVerify had a return on equity of 7.50% and a net margin of 6.77%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, equities analysts anticipate that DoubleVerify will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DV has been the subject of several analyst reports. Zacks Research cut DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “sell (d+)” rating on shares of DoubleVerify in a report on Monday, April 20th. Barclays restated an “equal weight” rating and issued a $12.00 target price on shares of DoubleVerify in a report on Monday, January 12th. Royal Bank Of Canada dropped their target price on DoubleVerify from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Finally, Canaccord Genuity Group dropped their target price on DoubleVerify from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.