Bank of Nova Scotia Increases Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Key Points

• Bank of Nova Scotia increased its stake in DoubleVerify Holdings by 54.6%, owning 292,580 shares valued at approximately $3.91 million after acquiring additional shares in Q1.
• DoubleVerify reported $0.05 earnings per share for the last quarter, falling short of the consensus estimate of $0.06, with revenue rising 21.3% year-over-year to $189.02 million.
• As of now, DoubleVerify Holdings has a current average rating of "Moderate Buy" with a consensus target price of $18.92 from analysts.

Bank of Nova Scotia raised its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 292,580 shares of the company's stock after buying an additional 103,280 shares during the quarter. Bank of Nova Scotia owned about 0.18% of DoubleVerify worth $3,912,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of DoubleVerify by 669.2% during the first quarter. SG Americas Securities LLC now owns 45,200 shares of the company's stock valued at $604,000 after acquiring an additional 39,324 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DoubleVerify by 9.8% during the fourth quarter. JPMorgan Chase & Co. now owns 708,429 shares of the company's stock valued at $13,609,000 after acquiring an additional 63,196 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of DoubleVerify by 36.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 81,672 shares of the company's stock valued at $1,092,000 after acquiring an additional 21,829 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoubleVerify by 68.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 97,140 shares of the company's stock valued at $1,299,000 after acquiring an additional 39,368 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of DoubleVerify by 25.1% during the fourth quarter. Alliancebernstein L.P. now owns 154,160 shares of the company's stock valued at $2,961,000 after acquiring an additional 30,948 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Price Performance

Shares of NYSE:DV traded up $0.06 during midday trading on Friday, reaching $14.89. 2,642,081 shares of the company's stock traded hands, compared to its average volume of 2,245,619. DoubleVerify Holdings, Inc. has a 1 year low of $11.52 and a 1 year high of $23.11. The company has a market cap of $2.44 billion, a P/E ratio of 51.35, a PEG ratio of 2.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.72 and a current ratio of 4.41. The company has a fifty day simple moving average of $15.05 and a two-hundred day simple moving average of $15.56.

DoubleVerify (NYSE:DV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $189.02 million during the quarter, compared to analysts' expectations of $171.14 million. DoubleVerify had a net margin of 7.38% and a return on equity of 4.86%. The company's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. Equities analysts predict that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DV shares. JPMorgan Chase & Co. upgraded shares of DoubleVerify from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $18.00 to $19.00 in a report on Friday, August 1st. Raymond James Financial cut their price target on shares of DoubleVerify from $22.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus increased their price target on shares of DoubleVerify from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Canaccord Genuity Group cut their price target on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank Of Canada cut their price target on shares of DoubleVerify from $24.00 to $21.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.13.

DoubleVerify Profile

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.