DoubleVerify (NYSE:DV) Stock Rating Lowered by Bank of America

Bank of America cut shares of DoubleVerify (NYSE:DV - Free Report) from a buy rating to an underperform rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $18.00 price objective on the stock, down from their prior price objective of $45.00.

DV has been the subject of several other research reports. Stifel Nicolaus reduced their price target on shares of DoubleVerify from $37.00 to $25.00 and set a buy rating for the company in a research report on Wednesday. Canaccord Genuity Group cut their target price on shares of DoubleVerify from $48.00 to $40.00 and set a buy rating for the company in a research report on Wednesday. JMP Securities cut their target price on shares of DoubleVerify from $40.00 to $34.00 and set a market outperform rating for the company in a research report on Wednesday. Royal Bank of Canada cut their target price on shares of DoubleVerify from $49.00 to $40.00 and set an outperform rating for the company in a research report on Wednesday. Finally, TheStreet upgraded shares of DoubleVerify from a d+ rating to a c- rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, DoubleVerify has an average rating of Moderate Buy and an average target price of $35.05.

DoubleVerify Trading Up 0.3 %

DV stock traded up $0.06 on Thursday, hitting $18.84. 7,987,461 shares of the company's stock traded hands, compared to its average volume of 2,103,979. DoubleVerify has a 1-year low of $17.74 and a 1-year high of $43.00. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 3.24 and a beta of 1.11. The stock has a fifty day moving average of $31.65 and a 200-day moving average of $34.25.

DoubleVerify (NYSE:DV - Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 12.48% and a return on equity of 7.29%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. On average, equities research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at DoubleVerify

In other news, insider Andrew E. Grimmig sold 50,924 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the transaction, the insider now directly owns 39,468 shares of the company's stock, valued at approximately $1,322,572.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Andrew E. Grimmig sold 50,924 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the completion of the transaction, the insider now directly owns 39,468 shares of the company's stock, valued at approximately $1,322,572.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the transaction, the insider now directly owns 145,944 shares of the company's stock, valued at $4,524,264. The disclosure for this sale can be found here. In the last three months, insiders sold 92,431 shares of company stock valued at $3,070,904. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in DoubleVerify by 15.0% in 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. Capital World Investors increased its position in DoubleVerify by 6.0% in the 4th quarter. Capital World Investors now owns 5,283,932 shares of the company's stock valued at $194,343,000 after acquiring an additional 301,011 shares in the last quarter. Congress Asset Management Co. MA increased its position in DoubleVerify by 813.2% in 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. Bank of New York Mellon Corp increased its position in DoubleVerify by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 3,713,684 shares of the company's stock valued at $130,573,000 after acquiring an additional 31,000 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position in DoubleVerify by 44.9% in the 1st quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company's stock valued at $96,581,000 after acquiring an additional 851,346 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

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.