DoubleVerify (NYSE:DV) Price Target Raised to $18.00 at Barclays

Key Points

• DoubleVerify received a price target increase from $16.00 to $18.00 by Barclays, suggesting a potential upside of 14.31%.
• The stock is currently rated as a "Moderate Buy" with a consensus average target price of $19.08, following assessments from multiple analysts.
• DoubleVerify reported a 21.3% revenue increase to $189.02 million for the last quarter, although it missed the estimated earnings per share (EPS) of $0.06 by $0.01.

DoubleVerify (NYSE:DV - Get Free Report) had its price objective boosted by equities research analysts at Barclays from $16.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 14.31% from the company's current price.

Several other equities analysts also recently commented on the stock. Truist Financial reissued a "buy" rating and issued a $22.00 target price (up previously from $21.00) on shares of DoubleVerify in a report on Thursday, June 12th. Wells Fargo & Company set a $13.00 target price on shares of DoubleVerify and gave the stock an "underweight" rating in a report on Thursday, June 12th. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of DoubleVerify in a research note on Thursday, June 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of DoubleVerify in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. raised shares of DoubleVerify from a "neutral" rating to an "overweight" rating and upped their price target for the company from $18.00 to $19.00 in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.08.

DoubleVerify Price Performance

NYSE:DV traded up $0.27 during trading hours on Wednesday, hitting $15.75. 1,295,955 shares of the stock traded hands, compared to its average volume of 2,438,371. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.01. DoubleVerify has a 1 year low of $11.52 and a 1 year high of $23.11. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 56.44, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The stock has a 50 day moving average price of $14.95 and a 200 day moving average price of $15.66.

DoubleVerify (NYSE:DV - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.05 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 company had revenue of $189.02 million during the quarter, compared to analysts' expectations of $171.14 million. During the same period last year, the firm posted $0.04 EPS. DoubleVerify's quarterly revenue was up 21.3% compared to the same quarter last year. Sell-side analysts forecast that DoubleVerify will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in DoubleVerify by 582.9% during the 1st quarter. Signaturefd LLC now owns 2,322 shares of the company's stock valued at $31,000 after buying an additional 1,982 shares in the last quarter. Parallel Advisors LLC lifted its holdings in DoubleVerify by 572.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,386 shares of the company's stock valued at $36,000 after buying an additional 2,031 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company's stock worth $39,000 after acquiring an additional 1,285 shares in the last quarter. Versant Capital Management Inc purchased a new position in DoubleVerify during the 1st quarter valued at about $40,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of DoubleVerify by 3,035.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,167 shares of the company's stock valued at $47,000 after purchasing an additional 3,066 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

About DoubleVerify

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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