DoubleVerify (NYSE:DV) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded DoubleVerify (NYSE:DV) from "hold" to "buy," and the analyst consensus shows 11 buys, 4 holds and 2 sells with an average price target of $16 and a "Moderate Buy" rating.
• DoubleVerify's most recent quarter missed estimates with EPS of $0.31 (vs. $0.33 expected) and revenue of $205.6M (vs. $208.8M expected), though revenue rose 7.9% year-over-year; shares trade near $9.57 with a market cap of about $1.51 billion.
• About 97.29% of the stock is held by institutional investors, with large recent increases from firms including Bank of Montreal and AQR Capital Management.

DoubleVerify (NYSE:DV - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research analysts also recently weighed in on DV. Wells Fargo & Company upped their price target on DoubleVerify from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Monday, March 2nd. Zacks Research downgraded DoubleVerify from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. Canaccord Genuity Group dropped their price target on DoubleVerify from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Barclays reissued an "equal weight" rating and set a $12.00 price objective on shares of DoubleVerify in a report on Monday, January 12th. Finally, Royal Bank Of Canada decreased their price objective on DoubleVerify from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.00.

DoubleVerify Stock Performance

DV stock opened at $9.57 on Friday. The stock's 50 day simple moving average is $9.89 and its 200 day simple moving average is $10.65. DoubleVerify has a fifty-two week low of $7.64 and a fifty-two week high of $16.82. The company has a market cap of $1.51 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99.

DoubleVerify (NYSE:DV - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). DoubleVerify had a return on equity of 7.50% and a net margin of 6.77%.The firm had revenue of $205.59 million for the quarter, compared to analyst estimates of $208.77 million. During the same period last year, the company posted $0.13 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts predict that DoubleVerify will post 0.36 earnings per share for the current year.

Institutional Trading of DoubleVerify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DV. Bank of Montreal Can increased its holdings in DoubleVerify by 2,028.9% during the 4th quarter. Bank of Montreal Can now owns 3,649,995 shares of the company's stock worth $41,756,000 after purchasing an additional 3,478,542 shares in the last quarter. AQR Capital Management LLC increased its holdings in DoubleVerify by 123.4% during the 4th quarter. AQR Capital Management LLC now owns 5,254,565 shares of the company's stock worth $60,112,000 after purchasing an additional 2,902,169 shares in the last quarter. SG Capital Management LLC increased its holdings in DoubleVerify by 202.1% during the 4th quarter. SG Capital Management LLC now owns 1,020,892 shares of the company's stock worth $11,679,000 after purchasing an additional 2,020,892 shares in the last quarter. Boston Partners bought a new position in shares of DoubleVerify in the fourth quarter valued at approximately $20,642,000. Finally, Invenomic Capital Management LP bought a new position in shares of DoubleVerify in the third quarter valued at approximately $21,671,000. 97.29% of the stock is owned by institutional investors.

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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