DoubleVerify (NYSE:DV) Stock Price Expected to Rise, Barclays Analyst Says

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 - Free Report) had its target price boosted by Barclays from $16.00 to $18.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada cut their target price on DoubleVerify from $24.00 to $21.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company set a $13.00 target price on DoubleVerify and gave the company an "underweight" rating in a report on Thursday, June 12th. BMO Capital Markets restated an "outperform" rating and set a $26.00 target price (up from $25.00) on shares of DoubleVerify in a report on Thursday, June 12th. Stifel Nicolaus raised their target price on DoubleVerify from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Truist Financial restated a "buy" rating and set a $22.00 target price (up from $21.00) on shares of DoubleVerify in a report on Thursday, June 12th. One research 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. Based on data from MarketBeat.com, DoubleVerify presently has an average rating of "Moderate Buy" and an average target price of $19.13.

DoubleVerify Stock Up 0.4%

DV traded up $0.06 during trading on Wednesday, reaching $14.89. 2,642,081 shares of the stock traded hands, compared to its average volume of 2,272,343. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 51.31, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. DoubleVerify has a fifty-two week low of $11.52 and a fifty-two week high of $23.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.41 and a quick ratio of 4.41. The stock's 50-day simple moving average is $15.05 and its two-hundred day simple moving average is $15.56.

DoubleVerify (NYSE:DV - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $189.02 million for the quarter, compared to analyst estimates of $171.14 million. DoubleVerify had a net margin of 7.38% and a return on equity of 4.86%. DoubleVerify's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. As a group, equities research analysts expect that DoubleVerify will post 0.36 EPS for the current year.

Hedge Funds Weigh In On DoubleVerify

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in DoubleVerify by 5.6% during the first quarter. Vanguard Group Inc. now owns 18,466,076 shares of the company's stock valued at $246,891,000 after acquiring an additional 984,779 shares during the period. Mackenzie Financial Corp increased its stake in DoubleVerify by 1.6% during the first quarter. Mackenzie Financial Corp now owns 5,752,688 shares of the company's stock valued at $76,913,000 after acquiring an additional 91,405 shares during the period. Burgundy Asset Management Ltd. increased its stake in DoubleVerify by 6.5% during the first quarter. Burgundy Asset Management Ltd. now owns 5,225,968 shares of the company's stock valued at $69,871,000 after acquiring an additional 319,055 shares during the period. AQR Capital Management LLC increased its stake in DoubleVerify by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company's stock valued at $50,002,000 after acquiring an additional 592,435 shares during the period. Finally, SG Capital Management LLC bought a new position in DoubleVerify during the second quarter valued at about $33,642,000. 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.