Ieq Capital LLC Purchases New Position in DoubleVerify Holdings, Inc. $DV

Key Points

• Ieq Capital LLC acquired 131,984 shares of DoubleVerify, valued at approximately $1.43 million, establishing a 0.09% stake. Hedge funds and other institutional investors collectively own 97.29% of the company.
• Analyst sentiment is mostly cautious: DoubleVerify has an overall “Hold” consensus, with 13 Hold, two Buy and one Sell rating. The consensus price target is $13.95 after several firms recently downgraded the stock or reduced their targets.
• DoubleVerify reported quarterly EPS of $0.22, beating estimates of $0.11, while revenue of $193.79 million fell short of expectations but increased 2.5% year over year. Shares opened at $13.30, up from their 50-day and 200-day moving averages.

Ieq Capital LLC acquired a new position in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 131,984 shares of the company's stock, valued at approximately $1,431,000. Ieq Capital LLC owned about 0.09% of DoubleVerify at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. purchased a new position in shares of DoubleVerify in the first quarter valued at $154,000. Woodline Partners LP grew its position in DoubleVerify by 2.5% in the first quarter. Woodline Partners LP now owns 30,825 shares of the company's stock worth $412,000 after acquiring an additional 762 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in DoubleVerify by 10.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company's stock worth $6,174,000 after acquiring an additional 43,343 shares in the last quarter. Creative Planning increased its stake 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 acquiring an additional 3,900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 3,995 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DV. Wells Fargo & Company raised DoubleVerify from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $8.00 to $13.60 in a research note on Friday, August 7th. Weiss Ratings restated a "sell (d+)" rating on shares of DoubleVerify in a report on Friday, July 17th. Raymond James Financial downgraded DoubleVerify from an "outperform" rating to a "market perform" rating in a research report on Friday, August 7th. Scotiabank lowered 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. Finally, Canaccord Genuity Group downgraded shares of DoubleVerify from a "buy" rating to a "hold" rating and reduced their target price for the company from $16.00 to $13.60 in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $13.95.

DoubleVerify Trading Down 0.2%

Shares of NYSE DV opened at $13.30 on Thursday. DoubleVerify Holdings, Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $16.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.50. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 1.45 and a beta of 0.98. The business's 50 day moving average price is $11.78 and its 200-day moving average price is $10.67.

DoubleVerify (NYSE:DV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.77% and a net margin of 7.66%.The company had revenue of $193.79 million during the quarter, compared to analysts' expectations of $202.23 million. During the same quarter in the previous year, the business earned $0.05 EPS. DoubleVerify's revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that DoubleVerify Holdings, Inc. will post 0.59 earnings per share for the current year.

DoubleVerify 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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