DoubleVerify (NYSE:DV) Sets New 12-Month Low Following Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) shares hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $40.00 to $30.00. Barclays currently has an overweight rating on the stock. DoubleVerify traded as low as $18.95 and last traded at $18.95, with a volume of 895023 shares. The stock had previously closed at $30.57.

Other research analysts have also recently issued research reports about the stock. Truist Financial lowered their target price on shares of DoubleVerify from $39.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of DoubleVerify from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, March 1st. Needham & Company LLC lowered their target price on shares of DoubleVerify from $45.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday. KeyCorp cut shares of DoubleVerify from an "overweight" rating to a "sector weight" rating in a report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of DoubleVerify from $49.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.47.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 5,364 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.80, for a total transaction of $175,939.20. Following the completion of the transaction, the chief financial officer now owns 73,030 shares in the company, valued at approximately $2,395,384. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Andrew E. Grimmig sold 16,667 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the transaction, the insider now owns 39,468 shares in the company, valued at approximately $1,334,018.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicola T. Allais sold 5,364 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.80, for a total transaction of $175,939.20. Following the completion of the transaction, the chief financial officer now owns 73,030 shares of the company's stock, valued at approximately $2,395,384. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,531 shares of company stock worth $3,043,004. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently made changes to their positions in the stock. Congress Asset Management Co. MA increased its holdings in DoubleVerify by 813.2% during the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company's stock valued at $141,255,000 after acquiring an additional 3,577,575 shares in the last quarter. Vanguard Group Inc. increased its holdings in DoubleVerify by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company's stock valued at $570,494,000 after acquiring an additional 2,017,687 shares in the last quarter. Norges Bank purchased a new position in DoubleVerify during the 4th quarter valued at about $58,477,000. Brown Capital Management LLC increased its holdings in DoubleVerify by 128.1% during the 4th quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company's stock valued at $82,257,000 after acquiring an additional 1,256,195 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in DoubleVerify by 39.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company's stock valued at $107,076,000 after acquiring an additional 1,082,615 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

DoubleVerify Trading Down 38.6 %

The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 3.24 and a beta of 1.11. The company's 50 day simple moving average is $32.06 and its 200-day simple moving average is $34.35.

DoubleVerify (NYSE:DV - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The company had revenue of $140.70 million for the quarter, compared to analysts' expectations of $138.25 million. During the same period last year, the company earned $0.07 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

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.