DoubleVerify (NYSE:DV) Shares Gap Up - Here's Why

DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $14.93, but opened at $16.59. DoubleVerify shares last traded at $15.60, with a volume of 822,729 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on DV. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of DoubleVerify in a report on Thursday. Truist Financial reaffirmed a "buy" rating and issued a $22.00 price objective (up previously from $21.00) on shares of DoubleVerify in a report on Thursday. Stifel Nicolaus lifted their price objective on DoubleVerify from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley decreased their price target on DoubleVerify from $18.50 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Baird R W lowered DoubleVerify from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.86.

DoubleVerify Trading Down 2.9%

The company's 50 day moving average price is $13.57 and its 200-day moving average price is $16.89. The company has a market capitalization of $2.35 billion, a PE ratio of 39.14, a PEG ratio of 2.63 and a beta of 1.03.

DoubleVerify (NYSE:DV - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). DoubleVerify had a net margin of 10.33% and a return on equity of 5.99%. The company had revenue of $165.06 million for the quarter, compared to analysts' expectations of $153.07 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm's quarterly revenue was up 17.2% on a year-over-year basis. As a group, analysts predict that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of DoubleVerify

Institutional investors have recently made changes to their positions in the stock. Geneva Capital Management LLC grew its stake in shares of DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company's stock valued at $49,450,000 after buying an additional 19,684 shares during the period. Norges Bank purchased a new stake in DoubleVerify during the 4th quarter worth $33,957,000. JPMorgan Chase & Co. boosted its position in DoubleVerify by 9.8% during the 4th quarter. JPMorgan Chase & Co. now owns 708,429 shares of the company's stock worth $13,609,000 after purchasing an additional 63,196 shares during the period. Charles Schwab Investment Management Inc. boosted its position in DoubleVerify by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 973,147 shares of the company's stock worth $18,694,000 after purchasing an additional 71,000 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company's stock worth $30,000 after purchasing an additional 981 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.