Truist Financial Cuts DoubleVerify (NYSE:DV) Price Target to $26.00

DoubleVerify (NYSE:DV) had its target price reduced by Truist Financial from $32.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 51.52% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of DoubleVerify in a report on Friday, June 14th. Morgan Stanley upped their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Macquarie reaffirmed an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a report on Wednesday, July 31st. Finally, Barclays dropped their target price on DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.18.

DoubleVerify Trading Up 0.4 %

NYSE DV opened at $17.16 on Wednesday. The company has a fifty day simple moving average of $19.31 and a 200 day simple moving average of $23.38. The company has a market cap of $2.95 billion, a P/E ratio of 45.16, a P/E/G ratio of 2.40 and a beta of 0.92. DoubleVerify has a 1 year low of $16.93 and a 1 year high of $43.00.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. Equities research analysts forecast that DoubleVerify will post 0.3 EPS for the current fiscal year.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total transaction of $35,315.28. Following the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,547,826.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 5,292 shares of company stock worth $104,835. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in DoubleVerify in the 1st quarter worth approximately $28,000. RiverPark Advisors LLC acquired a new stake in DoubleVerify during the 1st quarter worth about $54,000. CWM LLC increased its stake in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after acquiring an additional 1,900 shares during the period. Quadrant Capital Group LLC boosted its holdings in DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after purchasing an additional 587 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

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.