DoubleVerify (NYSE:DV) Announces Quarterly Earnings Results

Key Points

• DoubleVerify beat earnings expectations: Quarterly EPS was $0.22 versus the $0.11 consensus estimate. Revenue rose 2.5% year over year to $193.79 million but fell short of analysts’ $202.23 million forecast.
• Shares declined 2.0% to $11.74 despite the earnings beat. The stock has traded between $7.64 and $16.44 over the past year, with a market capitalization of approximately $1.80 billion.
• Analyst sentiment remains mixed: Nine analysts rate the stock Buy, four Hold and two Sell, producing an average rating of “Hold” and an average price target of $14.50.

DoubleVerify (NYSE:DV - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11, FiscalAI reports. The business had revenue of $193.79 million during the quarter, compared to analysts' expectations of $202.23 million. DoubleVerify had a net margin of 7.16% and a return on equity of 7.98%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS.

DoubleVerify Trading Down 2.0%

DoubleVerify stock traded down $0.24 during midday trading on Thursday, reaching $11.74. 4,493,402 shares of the stock traded hands, compared to its average volume of 1,920,467. The firm has a market cap of $1.80 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $10.41. DoubleVerify has a 12-month low of $7.64 and a 12-month high of $16.44.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in shares of DoubleVerify by 154.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company's stock worth $28,000 after buying an additional 1,492 shares during the last quarter. UMB Bank n.a. lifted its holdings in DoubleVerify by 124.3% in the fourth quarter. UMB Bank n.a. now owns 2,757 shares of the company's stock valued at $32,000 after acquiring an additional 1,528 shares during the period. Tower Research Capital LLC TRC lifted its holdings in DoubleVerify by 253.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,709 shares of the company's stock valued at $56,000 after acquiring an additional 2,660 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of DoubleVerify by 624.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,635 shares of the company's stock worth $69,000 after purchasing an additional 3,995 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of DoubleVerify by 93.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,248 shares of the company's stock worth $60,000 after purchasing an additional 2,533 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analysts Set New Price Targets

DV has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $14.00 price objective on shares of DoubleVerify in a report on Thursday, May 7th. Wells Fargo & Company cut their target price on DoubleVerify from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, May 12th. The Goldman Sachs Group lifted their target price on DoubleVerify from $10.50 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Wall Street Zen lowered DoubleVerify from a "buy" rating to a "hold" rating in a research note on Sunday, April 19th. Finally, Scotiabank cut DoubleVerify from an "outperform" rating to a "sector perform" rating and set a $13.60 price target for the company. in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.50.

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.

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