DoubleVerify (NYSE:DV) Reaches New 12-Month High – What’s Next?
by Teresa Graham · The Cerbat GemDoubleVerify Holdings, Inc. (NYSE:DV – Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $13.65 and last traded at $13.6050, with a volume of 11176552 shares traded. The stock had previously closed at $13.41.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Royal Bank Of Canada downgraded DoubleVerify from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $14.00 to $13.60 in a research note on Friday, August 7th. Truist Financial downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating and lowered their price target for the company from $16.00 to $13.60 in a report on Friday, August 7th. Citizens Jmp lowered shares of DoubleVerify from a “market outperform” rating to a “hold” rating in a research report on Friday, August 7th. Wells Fargo & Company raised shares of DoubleVerify from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $8.00 to $13.60 in a research note on Friday, August 7th. Finally, BMO Capital Markets set a $13.60 price objective on shares of DoubleVerify in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.52.
Check Out Our Latest Stock Analysis on DV
DoubleVerify Stock Performance
The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $12.50 and a two-hundred day moving average price of $11.06. The stock has a market cap of $2.09 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.
DoubleVerify (NYSE:DV – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The company had revenue of $193.79 million for the quarter, compared to the consensus estimate of $202.23 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that DoubleVerify Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On DoubleVerify
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in DoubleVerify by 122.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,027 shares of the company’s stock worth $737,000 after purchasing an additional 37,439 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of DoubleVerify during the second quarter valued at about $205,000. Nykredit A S purchased a new position in shares of DoubleVerify during the second quarter valued at about $32,000. Corient Private Wealth LP increased its holdings in shares of DoubleVerify by 102.6% in the second quarter. Corient Private Wealth LP now owns 47,080 shares of the company’s stock worth $510,000 after purchasing an additional 23,839 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of DoubleVerify in the second quarter worth about $1,154,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.
About DoubleVerify
DoubleVerify Holdings, Inc provides software and data analytics that help advertisers, agencies, publishers and digital media platforms measure and improve the quality and effectiveness of digital advertising. Its technology is designed to verify whether ads are delivered in appropriate environments, viewed by real users and displayed as intended across digital channels.
The company’s solutions address areas including viewability, fraud and invalid traffic, brand safety and suitability, media quality, campaign reach and performance.