Canaccord Genuity Group Trims DoubleVerify (NYSE:DV) Target Price to $40.00

DoubleVerify (NYSE:DV) had its target price lowered by analysts at Canaccord Genuity Group from $48.00 to $40.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 118.46% from the stock’s previous close.

DV has been the topic of a number of other research reports. Needham & Company LLC cut their price objective on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America cut their target price on DoubleVerify from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Barclays decreased their target price on DoubleVerify from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Robert W. Baird cut their price target on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, JMP Securities decreased their price objective on DoubleVerify from $45.00 to $40.00 and set a “market outperform” rating for the company in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.79.

DoubleVerify Stock Down 40.1 %

DoubleVerify stock traded down $12.26 during trading on Wednesday, reaching $18.31. The stock had a trading volume of 14,860,830 shares, compared to its average volume of 1,968,620. DoubleVerify has a 52-week low of $17.74 and a 52-week high of $43.00. The business has a 50 day moving average price of $32.06 and a 200 day moving average price of $34.35. The stock has a market cap of $3.14 billion, a PE ratio of 44.61, a P/E/G ratio of 3.24 and a beta of 1.11.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 EPS 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 firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts predict that DoubleVerify will post 0.36 EPS for the current fiscal year.

Insider Transactions at DoubleVerify

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DoubleVerify news, CFO Nicola T. Allais sold 5,364 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.80, for a total transaction of $175,939.20. Following the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at $2,395,384. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction 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 approximately $4,171,340.40. The disclosure for this sale can be found here. In the last three months, insiders sold 91,531 shares of company stock valued at $3,043,004. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Large investors have recently modified their holdings of the business. Motley Fool Asset Management LLC acquired a new position in DoubleVerify in the 4th quarter valued at about $962,000. Envestnet Asset Management Inc. lifted its stake in shares of DoubleVerify by 40.2% during the third quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after buying an additional 55,322 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in DoubleVerify by 135.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock worth $1,625,000 after acquiring an additional 33,499 shares during the period. California Public Employees Retirement System grew its stake in DoubleVerify by 24.7% in the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock worth $8,178,000 after acquiring an additional 44,106 shares during the period. Finally, Moody National Bank Trust Division purchased a new position in shares of DoubleVerify during the 4th quarter worth $1,590,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About DoubleVerify

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.