Barclays Lowers DoubleVerify (NYSE:DV) Price Target to $30.00

DoubleVerify (NYSE:DV - Free Report) had its price target decreased by Barclays from $40.00 to $30.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also commented on DV. KeyCorp lowered DoubleVerify from an overweight rating to a sector weight rating in a report on Wednesday. Royal Bank of Canada cut their price target on DoubleVerify from $49.00 to $40.00 and set an outperform rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of DoubleVerify from $44.00 to $41.00 and set an overweight rating on the stock in a research note on Friday, March 1st. TheStreet upgraded shares of DoubleVerify from a d+ rating to a c- rating in a research report on Thursday, February 29th. Finally, Robert W. Baird decreased their price target on shares of DoubleVerify from $42.00 to $34.00 and set an outperform rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $37.47.

DoubleVerify Stock Performance

Shares of DV traded down $11.80 during trading hours on Wednesday, hitting $18.77. The company had a trading volume of 20,288,790 shares, compared to its average volume of 2,037,757. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 44.49, a P/E/G ratio of 3.24 and a beta of 1.11. The firm has a fifty day moving average price of $32.06 and a 200-day moving average price of $34.35. DoubleVerify has a 52-week low of $17.74 and a 52-week high of $43.00.

DoubleVerify (NYSE:DV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $138.25 million. During the same period in the previous year, the business earned $0.07 EPS. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. 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 DoubleVerify stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the transaction, the insider now directly owns 39,468 shares in the company, valued at approximately $1,322,572.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the completion of the sale, the insider now directly owns 137,668 shares in the company, valued at $4,171,340.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew E. Grimmig sold 50,924 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the transaction, the insider now directly owns 39,468 shares in the company, valued at $1,322,572.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,531 shares of company stock valued at $3,043,004. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On DoubleVerify

Hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. MA raised its stake 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 worth $141,255,000 after acquiring an additional 3,577,575 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of DoubleVerify by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company's stock worth $570,494,000 after purchasing an additional 2,017,687 shares during the last quarter. Norges Bank acquired a new stake in shares of DoubleVerify during the fourth quarter worth about $58,477,000. Brown Capital Management LLC boosted its position in DoubleVerify by 128.1% in the fourth quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company's stock valued at $82,257,000 after buying an additional 1,256,195 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in DoubleVerify by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 3,830,983 shares of the company's stock valued at $107,076,000 after buying an additional 1,082,615 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

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.