Piper Sandler Cuts DoubleVerify (NYSE:DV) Price Target to $40.00

DoubleVerify (NYSE:DV) had its target price lowered by Piper Sandler from $45.00 to $40.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the company. JMP Securities cut their target price on DoubleVerify from $43.00 to $40.00 and set a market outperform rating on the stock in a research report on Friday. Needham & Company LLC restated a buy rating and issued a $45.00 price objective on shares of DoubleVerify in a report on Tuesday, August 1st. The Goldman Sachs Group boosted their target price on DoubleVerify from $35.00 to $40.00 in a report on Monday, July 17th. Barclays raised their price target on shares of DoubleVerify from $34.00 to $47.00 in a report on Wednesday, July 19th. Finally, Robert W. Baird started coverage on shares of DoubleVerify in a research note on Friday, August 18th. They set an outperform rating and a $38.00 price objective for the company. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify presently has a consensus rating of Moderate Buy and a consensus target price of $42.47.

DoubleVerify Price Performance

DV opened at $28.21 on Friday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 94.03 and a beta of 0.94. DoubleVerify has a 12 month low of $20.38 and a 12 month high of $42.51. The business has a 50-day moving average of $34.85 and a two-hundred day moving average of $32.70.

DoubleVerify (NYSE:DV) last released its earnings results on Monday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $133.74 million during the quarter, compared to the consensus estimate of $133.39 million. DoubleVerify had a net margin of 10.64% and a return on equity of 6.01%. DoubleVerify’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. Equities research analysts anticipate that DoubleVerify will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 9,231 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $37.71, for a total value of $348,101.01. Following the completion of the transaction, the chief financial officer now owns 59,674 shares of the company’s stock, valued at $2,250,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Nicola T. Allais sold 9,231 shares of DoubleVerify stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $37.71, for a total value of $348,101.01. Following the completion of the sale, the chief financial officer now owns 59,674 shares in the company, valued at $2,250,306.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura Desmond sold 11,002 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $40.32, for a total transaction of $443,600.64. Following the completion of the sale, the director now directly owns 179,071 shares in the company, valued at $7,220,142.72. The disclosure for this sale can be found here. Insiders have sold 25,191,350 shares of company stock worth $819,263,084 in the last quarter. 3.27% of the stock is owned by corporate insiders.

Institutional Trading of DoubleVerify

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its position in shares of DoubleVerify by 54.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,242 shares of the company’s stock worth $131,000 after acquiring an additional 1,838 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in DoubleVerify by 62.2% in the first quarter. JPMorgan Chase & Co. now owns 16,636 shares of the company’s stock worth $419,000 after purchasing an additional 6,381 shares during the period. Bank of New York Mellon Corp increased its stake in DoubleVerify by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 131,348 shares of the company’s stock valued at $3,308,000 after purchasing an additional 2,682 shares during the last quarter. US Bancorp DE raised its holdings in shares of DoubleVerify by 210.8% during the first quarter. US Bancorp DE now owns 12,064 shares of the company’s stock worth $303,000 after purchasing an additional 8,182 shares during the period. Finally, Citigroup Inc. lifted its position in shares of DoubleVerify by 130.3% in the 1st quarter. Citigroup Inc. now owns 6,012 shares of the company’s stock worth $151,000 after buying an additional 3,401 shares during 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 analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.