DoubleVerify (NYSE:DV) Sees Large Volume Increase - Should You Buy?

Key Points

• DoubleVerify’s trading volume rose 24% to approximately 3.85 million shares, while the stock edged up 0.1% to $13.235.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with an average price target of $14.18. Recent updates included downgrades to Hold and price targets ranging from $12.00 to $13.60.
• Institutional ownership is very high at 97.29%, with BlackRock increasing its stake by 19.6% and Deutsche Bank raising holdings by 80.6% during the second quarter.

DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,845,307 shares traded hands during trading, an increase of 24% from the previous session's volume of 3,103,337 shares.The stock last traded at $13.2350 and had previously closed at $13.22.

Analysts Set New Price Targets

Several research analysts recently issued reports on DV shares. Nomura set a $13.60 target price on DoubleVerify in a research report on Friday. Weiss Ratings restated a "sell (d+)" rating on shares of DoubleVerify in a research note on Friday, July 17th. Citizens Jmp downgraded shares of DoubleVerify from a "market outperform" rating to a "hold" rating in a report on Friday. BMO Capital Markets set a $13.60 price objective on shares of DoubleVerify in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on shares of DoubleVerify from $10.50 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DoubleVerify presently has a consensus rating of "Hold" and an average price target of $14.18.

DoubleVerify Stock Up 0.1%

The company has a quick ratio of 4.77, a current ratio of 4.50 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $11.07 and a 200-day simple moving average of $10.44. The company has a market cap of $2.03 billion, a PE ratio of 36.76, a P/E/G ratio of 1.58 and a beta of 0.97.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently added to or reduced their stakes in DV. Tocqueville Asset Management L.P. acquired a new position in shares of DoubleVerify during the 2nd quarter worth about $5,209,000. Denali Advisors LLC acquired a new stake in DoubleVerify in the 2nd quarter worth about $212,000. Citizens Financial Group Inc. RI purchased a new stake in DoubleVerify during the 2nd quarter worth approximately $128,000. BlackRock Inc. raised its holdings in shares of DoubleVerify by 19.6% during the second quarter. BlackRock Inc. now owns 23,152,508 shares of the company's stock valued at $250,973,000 after acquiring an additional 3,799,956 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of DoubleVerify by 80.6% during the second quarter. Deutsche Bank AG now owns 312,999 shares of the company's stock valued at $3,393,000 after acquiring an additional 139,699 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

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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