Gagnon Securities LLC Reduces Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Key Points

• Gagnon Securities LLC reduced its stake in DoubleVerify Holdings by 22.7%, holding 95,830 shares worth approximately $1.28 million after selling 28,071 shares in the first quarter.
• Other institutional investors, such as Burgundy Asset Management and Federated Hermes, significantly increased their stakes in DoubleVerify, with Burgundy raising its holdings by 73.2% and Federated by 17,284.0%.
• Analysts maintain a consensus rating of "Moderate Buy" for DoubleVerify, with a price target averaging $19.13, despite mixed earnings reports where the company missed estimates by $0.01.

Gagnon Securities LLC decreased its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 22.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 95,830 shares of the company's stock after selling 28,071 shares during the period. Gagnon Securities LLC owned 0.06% of DoubleVerify worth $1,281,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its holdings in shares of DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company's stock valued at $94,262,000 after acquiring an additional 2,073,279 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of DoubleVerify by 17,284.0% in the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company's stock valued at $22,245,000 after acquiring an additional 1,654,250 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of DoubleVerify in the 4th quarter valued at about $31,579,000. Alta Fox Capital Management LLC purchased a new stake in shares of DoubleVerify in the 4th quarter valued at about $24,267,000. Finally, Vanguard Group Inc. raised its holdings in shares of DoubleVerify by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 18,466,076 shares of the company's stock valued at $246,891,000 after acquiring an additional 984,779 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial reaffirmed a "buy" rating and issued a $22.00 price target (up previously from $21.00) on shares of DoubleVerify in a report on Thursday, June 12th. Barclays raised their price target on DoubleVerify from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Wednesday. Craig Hallum reaffirmed a "buy" rating and issued a $20.00 price target on shares of DoubleVerify in a report on Monday, July 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of DoubleVerify in a report on Thursday, June 12th. Finally, Raymond James Financial lowered their price target on DoubleVerify from $22.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.13.

DoubleVerify Price Performance

DV opened at $15.89 on Thursday. The stock's 50 day simple moving average is $14.99 and its 200 day simple moving average is $15.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.72 and a quick ratio of 3.72. DoubleVerify Holdings, Inc. has a 1 year low of $11.52 and a 1 year high of $23.11. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 2.34 and a beta of 1.05.

DoubleVerify (NYSE:DV - Get Free Report) last issued 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 business had revenue of $189.02 million during the quarter, compared to the consensus estimate of $171.14 million. DoubleVerify had a return on equity of 4.87% and a net margin of 7.38%. DoubleVerify's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, analysts predict that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current year.

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.

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