Bank of America Corp DE Raises Stake in DoubleVerify Holdings, Inc. $DV

Key Points

• Bank of America increased its DoubleVerify stake by 65.1% in the first quarter, adding 675,026 shares to own 1.71 million shares worth approximately $16.3 million. Institutional investors and hedge funds collectively hold 97.29% of the stock.
• Analyst sentiment is largely neutral: DoubleVerify has an average “Hold” rating and a $14.18 price target, with several firms recently downgrading the stock and lowering targets to $13.60.
• DoubleVerify reported quarterly EPS of $0.22, beating estimates of $0.11, while revenue rose 2.5% year over year to $193.79 million but fell short of the $202.23 million consensus estimate.

Bank of America Corp DE increased its holdings in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 65.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,711,681 shares of the company's stock after buying an additional 675,026 shares during the quarter. Bank of America Corp DE owned about 1.12% of DoubleVerify worth $16,261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DV. Quadrant Capital Group LLC boosted its holdings in DoubleVerify by 154.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company's stock valued at $28,000 after purchasing an additional 1,492 shares during the last quarter. UMB Bank n.a. raised its stake in shares of DoubleVerify by 124.3% during the 4th quarter. UMB Bank n.a. now owns 2,757 shares of the company's stock valued at $32,000 after buying an additional 1,528 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of DoubleVerify by 81.2% in the 4th quarter. Clearstead Advisors LLC now owns 3,724 shares of the company's stock valued at $43,000 after buying an additional 1,669 shares during the period. Allworth Financial LP boosted its stake in shares of DoubleVerify by 121.9% in the fourth quarter. Allworth Financial LP now owns 4,699 shares of the company's stock worth $54,000 after buying an additional 2,581 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of DoubleVerify by 37.2% in the fourth quarter. Hantz Financial Services Inc. now owns 4,731 shares of the company's stock worth $54,000 after buying an additional 1,284 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on DV shares. BMO Capital Markets set a $13.60 target price on DoubleVerify in a report on Friday, August 7th. Canaccord Genuity Group lowered DoubleVerify from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $16.00 to $13.60 in a research report on Friday, August 7th. Scotiabank cut shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $15.00 to $13.60 in a research note on Friday, August 7th. Citizens Jmp lowered shares of DoubleVerify from a "market outperform" rating to a "hold" rating in a report on Friday, August 7th. Finally, Nomura set a $13.60 target price on shares of DoubleVerify in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.18.

DoubleVerify Stock Up 0.2%

DoubleVerify stock opened at $13.31 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.50 and a quick ratio of 4.50. The stock has a market capitalization of $2.06 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. The business has a 50 day simple moving average of $11.54 and a 200-day simple moving average of $10.58. DoubleVerify Holdings, Inc. has a 12 month low of $7.64 and a 12 month high of $16.44.

DoubleVerify (NYSE:DV - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $202.23 million. During the same quarter last year, the company earned $0.05 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts anticipate that DoubleVerify Holdings, Inc. will post 0.61 EPS for the current fiscal year.

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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