Morgan Stanley Issues Positive Forecast for DoubleVerify (NYSE:DV) Stock Price

Key Points

• Morgan Stanley has raised the price target for DoubleVerify (NYSE:DV) from $17.00 to $18.00, indicating a potential upside of 12.54% from the current stock price.
• The stock currently holds a consensus rating of "Moderate Buy" with a target price average of $19.13 from various analysts.
• DoubleVerify recently reported quarterly revenue of $189.02 million, exceeding estimates, but missed earnings per share expectations by $0.01.

DoubleVerify (NYSE:DV - Get Free Report) had its target price increased by investment analysts at Morgan Stanley from $17.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 20.89% from the stock's current price.

Several other research analysts have also recently commented on DV. JPMorgan Chase & Co. upgraded shares of DoubleVerify from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Friday, August 1st. Stifel Nicolaus increased their price objective on DoubleVerify from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Needham & Company LLC restated a "buy" rating and set a $18.00 price target on shares of DoubleVerify in a research report on Thursday, June 12th. The Goldman Sachs Group decreased their price objective on shares of DoubleVerify from $20.00 to $15.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $27.00 target price (up previously from $26.00) on shares of DoubleVerify in a report on Wednesday. One investment 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.13.

DoubleVerify Stock Up 0.4%

Shares of DV stock traded up $0.06 during trading hours on Wednesday, hitting $14.89. 2,642,081 shares of the company were exchanged, compared to its average volume of 2,272,343. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 51.35, a P/E/G ratio of 2.22 and a beta of 1.05. DoubleVerify has a one year low of $11.52 and a one year high of $23.11. The business's 50-day simple moving average is $15.05 and its two-hundred day simple moving average is $15.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.41 and a current ratio of 4.41.

DoubleVerify (NYSE:DV - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $189.02 million for the quarter, compared to the consensus estimate of $171.14 million. DoubleVerify had a return on equity of 4.86% and a net margin of 7.38%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Sell-side analysts predict that DoubleVerify will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors have recently bought and sold shares of DV. SG Capital Management LLC purchased a new position in shares of DoubleVerify during the 2nd quarter valued at $33,642,000. Burgundy Asset Management Ltd. grew its stake in DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company's stock valued at $94,262,000 after purchasing an additional 2,073,279 shares in the last quarter. Sunriver Management LLC acquired a new position in DoubleVerify in the 1st quarter worth about $22,485,000. Federated Hermes Inc. increased its position in DoubleVerify by 17,284.0% in the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company's stock worth $22,245,000 after purchasing an additional 1,654,250 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of DoubleVerify during the 4th quarter worth about $31,579,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Company 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.