DoubleVerify (NYSE:DV) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded DoubleVerify from a "buy" to a "hold" rating in a Sunday report, signaling weaker near-term analyst sentiment.
• Despite some downgrades, the analyst mix remains tilted positive with a consensus of "Moderate Buy" (11 Buy, 4 Hold, 2 Sell) and a consensus price target of $16.00.
• DoubleVerify slightly missed Q4 estimates (EPS $0.31 vs. $0.33; revenue $205.6M vs. $208.8M) although revenue was up 7.9% year-over-year; shares opened around $10.75 with a market cap of about $1.69B.

DoubleVerify (NYSE:DV - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Other equities analysts also recently issued research reports about the company. Zacks Research downgraded DoubleVerify from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of DoubleVerify in a research note on Wednesday, January 21st. Royal Bank Of Canada cut their price target on DoubleVerify from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Barclays reiterated an "equal weight" rating and set a $12.00 price target on shares of DoubleVerify in a research note on Monday, January 12th. Finally, Wells Fargo & Company boosted their target price on DoubleVerify from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Monday, March 2nd. Eleven 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

DoubleVerify Trading Up 0.3%

Shares of NYSE DV opened at $10.75 on Friday. The business's 50 day moving average is $9.96 and its 200-day moving average is $10.59. DoubleVerify has a 1-year low of $7.64 and a 1-year high of $16.82. The firm has a market cap of $1.69 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 1.22 and a beta of 0.99.

DoubleVerify (NYSE:DV - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). DoubleVerify had a net margin of 6.77% and a return on equity of 7.50%. The firm had revenue of $205.59 million during the quarter, compared to the consensus estimate of $208.77 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Analysts forecast that DoubleVerify will post 0.36 EPS for the current year.

Hedge Funds Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC boosted its stake in shares of DoubleVerify by 210.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,055 shares of the company's stock worth $25,000 after buying an additional 1,392 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of DoubleVerify by 154.5% in 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 stake 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 purchasing an additional 1,528 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in DoubleVerify by 178.9% in the third quarter. Hantz Financial Services Inc. now owns 3,447 shares of the company's stock valued at $41,000 after purchasing an additional 2,211 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 2,660 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

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.

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