DoubleVerify (NYSE:DV) Sees Unusually-High Trading Volume – Here’s Why

DoubleVerify Holdings, Inc. (NYSE:DV) saw strong trading volume on Tuesday . Approximately 3,845,307 shares were traded during trading, an increase of 24% from the previous session’s volume of 3,103,337 shares.The stock last traded at $13.2350 and had previously closed at $13.22.

Wall Street Analyst Weigh In

DV has been the topic of several research reports. Royal Bank Of Canada downgraded shares of DoubleVerify from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $14.00 to $13.60 in a research note on Friday. The Goldman Sachs Group boosted their target price on DoubleVerify from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial cut DoubleVerify from an “outperform” rating to a “market perform” rating in a report on Friday. Truist Financial downgraded DoubleVerify from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $16.00 to $13.60 in a research report on Friday. Finally, Citizens Jmp lowered DoubleVerify from a “market outperform” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.18.

DoubleVerify Stock Up 0.1%

The company has a market capitalization of $2.03 billion, a PE ratio of 36.76, a PEG ratio of 1.58 and a beta of 0.97. The company has a current ratio of 4.50, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $11.07 and a 200 day moving average of $10.44.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of DoubleVerify by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 14,776,618 shares of the company’s stock worth $169,045,000 after acquiring an additional 360,055 shares during the period. Diversified Investment Strategies LLC purchased a new position in DoubleVerify in the first quarter valued at $3,246,000. Ruffer LLP purchased a new position in DoubleVerify in the fourth quarter valued at $7,399,000. Empowered Funds LLC acquired a new position in DoubleVerify during the 1st quarter worth $1,687,000. Finally, ZWJ Investment Counsel Inc. grew its stake in DoubleVerify by 16.6% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 1,640,121 shares of the company’s stock worth $18,763,000 after purchasing an additional 233,307 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Company Profile

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.