Needham & Company LLC Reiterates “Buy” Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $18.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 22.37% from the stock’s current price.

A number of other equities analysts have also recently weighed in on DV. Morgan Stanley dropped their price target on DoubleVerify from $18.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Barclays dropped their price target on DoubleVerify from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Cannonball Research cut DoubleVerify to a “neutral” rating in a research note on Sunday, March 2nd. Canaccord Genuity Group decreased their target price on DoubleVerify from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Bank of America raised DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

DoubleVerify Price Performance

Shares of DV opened at $14.71 on Monday. The firm’s 50 day moving average is $13.44 and its 200-day moving average is $17.66. The stock has a market capitalization of $2.39 billion, a P/E ratio of 39.76, a P/E/G ratio of 2.63 and a beta of 1.03. DoubleVerify has a 12-month low of $11.52 and a 12-month high of $23.11.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $165.06 million during the quarter, compared to analyst estimates of $153.07 million. DoubleVerify had a return on equity of 5.99% and a net margin of 10.33%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. As a group, equities research analysts forecast that DoubleVerify will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently added to or reduced their stakes in DV. Geneva Capital Management LLC boosted its stake in shares of DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock worth $49,450,000 after acquiring an additional 19,684 shares in the last quarter. Norges Bank bought a new stake in shares of DoubleVerify during the 4th quarter worth about $33,957,000. JPMorgan Chase & Co. boosted its stake in shares of DoubleVerify by 9.8% during the 4th quarter. JPMorgan Chase & Co. now owns 708,429 shares of the company’s stock worth $13,609,000 after acquiring an additional 63,196 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DoubleVerify by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 973,147 shares of the company’s stock worth $18,694,000 after acquiring an additional 71,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of DoubleVerify by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock worth $34,264,000 after acquiring an additional 94,095 shares in 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.