DoubleVerify's (DV) "Neutral" Rating Reaffirmed at JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed a “Neutral” rating on DoubleVerify with a $13.60 price target, implying approximately 2.18% upside. The broader analyst consensus is “Hold,” with an average target price of $13.95.
• DoubleVerify reported quarterly EPS of $0.22, exceeding the $0.11 consensus estimate, while revenue reached $193.79 million, up 2.5% year over year but below expectations of $202.23 million.
• The stock opened at $13.31, with institutional investors and hedge funds owning approximately 97.29% of outstanding shares.

DoubleVerify (NYSE:DV - Get Free Report)'s stock had its "neutral" rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $13.60 price objective on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 2.18% from the company's current price.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company upgraded DoubleVerify from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $8.00 to $13.60 in a report on Friday, August 7th. Scotiabank downgraded DoubleVerify from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $15.00 to $13.60 in a research report on Friday, August 7th. Nomura set a $13.60 price target on shares of DoubleVerify in a research note on Friday, August 7th. Weiss Ratings reiterated a "sell (d+)" rating on shares of DoubleVerify in a report on Friday, July 17th. Finally, Truist Financial lowered shares of DoubleVerify from a "buy" rating to a "hold" rating and cut their price objective for the stock from $16.00 to $13.60 in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.95.

DoubleVerify Trading Up 0.2%

Shares of NYSE:DV opened at $13.31 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.39 and a beta of 0.98. DoubleVerify has a 12 month low of $7.64 and a 12 month high of $16.44. The company's fifty day simple moving average is $11.54 and its 200 day simple moving average is $10.58. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.11. DoubleVerify had a net margin of 7.66% and a return on equity of 8.77%. The firm had revenue of $193.79 million during the quarter, compared to analyst estimates of $202.23 million. During the same period in the prior year, the business earned $0.05 EPS. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that DoubleVerify will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DV. Baird Financial Group Inc. bought a new stake in shares of DoubleVerify during the 1st quarter worth approximately $154,000. Woodline Partners LP lifted its stake in DoubleVerify by 2.5% in the first quarter. Woodline Partners LP now owns 30,825 shares of the company's stock valued at $412,000 after acquiring an additional 762 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of DoubleVerify by 10.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company's stock valued at $6,174,000 after acquiring an additional 43,343 shares during the period. Creative Planning boosted its position in DoubleVerify by 17.8% during the second quarter. Creative Planning now owns 25,827 shares of the company's stock worth $387,000 after purchasing an additional 3,900 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of DoubleVerify by 624.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,635 shares of the company's stock worth $69,000 after purchasing an additional 3,995 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Company Profile

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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