DoubleVerify (NYSE:DV) Given New $40.00 Price Target at Royal Bank of Canada

DoubleVerify (NYSE:DVFree Report) had its price objective decreased by Royal Bank of Canada from $49.00 to $40.00 in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

DV has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on shares of DoubleVerify from $32.00 to $30.00 and set a neutral rating on the stock in a research report on Thursday, February 29th. Wells Fargo & Company decreased their target price on DoubleVerify from $44.00 to $41.00 and set an overweight rating on the stock in a research report on Friday, March 1st. Barclays reduced their price target on DoubleVerify from $43.00 to $40.00 and set an overweight rating for the company in a research note on Thursday, February 29th. BMO Capital Markets reiterated an outperform rating and set a $42.00 price objective (down previously from $44.00) on shares of DoubleVerify in a research report on Friday, March 1st. Finally, Robert W. Baird reduced their target price on shares of DoubleVerify from $42.00 to $34.00 and set an outperform rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $35.05.

Read Our Latest Stock Analysis on DoubleVerify

DoubleVerify Price Performance

DoubleVerify stock opened at $18.89 on Wednesday. DoubleVerify has a fifty-two week low of $17.74 and a fifty-two week high of $43.00. The firm has a market capitalization of $3.25 billion, a PE ratio of 49.71, a P/E/G ratio of 2.22 and a beta of 1.11. The company’s 50-day moving average is $31.16 and its 200-day moving average is $34.11.

DoubleVerify (NYSE:DVGet Free Report) last announced its quarterly earnings results 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 return on equity of 6.46% and a net margin of 11.25%. The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that DoubleVerify will post 0.33 EPS for the current year.

Insider Transactions at DoubleVerify

In related news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now owns 137,668 shares in the company, valued at approximately $4,171,340.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $27,270.00. Following the sale, the insider now directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew E. Grimmig sold 50,924 shares of the company’s stock in a transaction that occurred on 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 owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,431 shares of company stock worth $3,070,904. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Institutional investors have recently made changes to their positions in the stock. Motley Fool Asset Management LLC bought a new position in DoubleVerify during the fourth quarter worth $962,000. Envestnet Asset Management Inc. lifted its stake in shares of DoubleVerify by 40.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after purchasing an additional 55,322 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of DoubleVerify by 135.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock valued at $1,625,000 after purchasing an additional 33,499 shares in the last quarter. California Public Employees Retirement System increased its holdings in DoubleVerify by 24.7% in the fourth quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock worth $8,178,000 after purchasing an additional 44,106 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in DoubleVerify in the fourth quarter valued at approximately $1,590,000. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

(Get Free Report)

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.

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Analyst Recommendations for DoubleVerify (NYSE:DV)

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