DoubleVerify (NYSE:DV) Given Outperform Rating at BMO Capital Markets

Key Points

• BMO Capital Markets reaffirmed an "outperform" rating for DoubleVerify (NYSE:DV) and raised its target price from $26.00 to $27.00, indicating a potential upside of 71.47% from the current price.
• DoubleVerify's latest earnings report showed revenue growth of 21.3% year-over-year, with earnings per share of $0.05, slightly missing the consensus estimate of $0.06.
• Institutional investors own 97.29% of DoubleVerify's stock, with significant recent increases in positions from firms like Quadrant Capital Group and Signaturefd LLC.

DoubleVerify (NYSE:DV - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at BMO Capital Markets in a note issued to investors on Wednesday,Benzinga reports. They currently have a $27.00 target price on the stock, up from their previous target price of $26.00. BMO Capital Markets' price objective indicates a potential upside of 71.47% from the company's current price.

Several other research firms also recently commented on DV. Canaccord Genuity Group lowered their target price on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial lowered their target price on shares of DoubleVerify from $22.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Truist Financial reissued a "buy" rating and set a $22.00 target price (up from $21.00) on shares of DoubleVerify in a research report on Thursday, June 12th. JPMorgan Chase & Co. raised shares of DoubleVerify from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $18.00 to $19.00 in a research report on Friday, August 1st. Finally, Royal Bank Of Canada lowered their target price on shares of DoubleVerify from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.08.

DoubleVerify Stock Up 1.7%

Shares of NYSE:DV traded up $0.27 during midday trading on Wednesday, hitting $15.75. 1,295,955 shares of the stock were exchanged, compared to its average volume of 2,438,371. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.72 and a current ratio of 3.72. DoubleVerify has a 52-week low of $11.52 and a 52-week high of $23.11. The business's fifty day simple moving average is $14.95 and its two-hundred day simple moving average is $15.66. The company has a market capitalization of $2.56 billion, a PE ratio of 56.44, a P/E/G ratio of 2.34 and a beta of 1.05.

DoubleVerify (NYSE:DV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). DoubleVerify had a return on equity of 4.73% and a net margin of 7.55%. The firm had revenue of $189.02 million for the quarter, compared to analysts' expectations of $171.14 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. DoubleVerify's revenue was up 21.3% on a year-over-year basis. As a group, research analysts predict that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in DoubleVerify by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company's stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. Signaturefd LLC raised its position in DoubleVerify by 582.9% in the 1st quarter. Signaturefd LLC now owns 2,322 shares of the company's stock worth $31,000 after purchasing an additional 1,982 shares during the last quarter. Parallel Advisors LLC raised its position in DoubleVerify by 572.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,386 shares of the company's stock worth $36,000 after purchasing an additional 2,031 shares during the last quarter. Versant Capital Management Inc bought a new position in DoubleVerify in the 1st quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC raised its position in DoubleVerify by 3,035.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,167 shares of the company's stock worth $47,000 after purchasing an additional 3,066 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.

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