DoubleVerify (NYSE:DV) Hits New 12-Month High - Time to Buy?

Key Points

• DoubleVerify shares hit a new 52-week high of $13.65 and were recently trading around $13.61, up 1.2%, giving the company a market capitalization of approximately $2.1 billion.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with a $13.52 average price target; most recent rating changes lowered or maintained targets near $13.60.
• In its latest quarter, DoubleVerify reported adjusted earnings of $0.22 per share, exceeding estimates of $0.11, while revenue of $193.79 million missed forecasts and increased 2.5% year over year. Institutional investors own 97.29% of the company.

DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $13.65 and last traded at $13.6050, with a volume of 11176552 shares trading hands. The stock had previously closed at $13.41.

Analysts Set New Price Targets

DV has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered DoubleVerify from a "buy" rating to a "hold" rating and decreased their price target for the stock from $16.00 to $13.60 in a research note on Friday, August 7th. Weiss Ratings raised DoubleVerify from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Wells Fargo & Company upgraded DoubleVerify from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $8.00 to $13.60 in a research report on Friday, August 7th. Royal Bank Of Canada lowered shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $14.00 to $13.60 in a research note on Friday, August 7th. Finally, Scotiabank cut shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $15.00 to $13.60 in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.52.

DoubleVerify Trading Up 1.2%

The stock has a market capitalization of $2.10 billion, a P/E ratio of 37.71, a P/E/G ratio of 1.46 and a beta of 0.99. The stock's 50 day moving average price is $12.42 and its 200-day moving average price is $11.01. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.11. The company had revenue of $193.79 million during the quarter, compared to analyst estimates of $202.23 million. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.DoubleVerify's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities research analysts expect that DoubleVerify Holdings, Inc. will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On DoubleVerify

Institutional investors have recently added to or reduced their stakes in the stock. Diversified Investment Strategies LLC bought a new position in shares of DoubleVerify during the 1st quarter worth approximately $3,246,000. Quantinno Capital Management LP boosted its stake in DoubleVerify by 181.5% in the first quarter. Quantinno Capital Management LP now owns 426,329 shares of the company's stock valued at $4,050,000 after acquiring an additional 274,896 shares in the last quarter. Empowered Funds LLC acquired a new stake in DoubleVerify in the first quarter valued at approximately $1,687,000. Pale Fire Capital SE purchased a new position in DoubleVerify in the first quarter worth $1,050,000. Finally, Russell Investments Group Ltd. grew its holdings in DoubleVerify by 92.0% in the second quarter. Russell Investments Group Ltd. now owns 299,346 shares of the company's stock worth $3,256,000 after purchasing an additional 143,429 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides software and data analytics that help advertisers, agencies, publishers and digital media platforms measure and improve the quality and effectiveness of digital advertising. Its technology is designed to verify whether ads are delivered in appropriate environments, viewed by real users and displayed as intended across digital channels.

The company's solutions address areas including viewability, fraud and invalid traffic, brand safety and suitability, media quality, campaign reach and performance.

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