DoubleVerify (NYSE:DV) Trading 7% Higher – Should You Buy?

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) were up 7% on Friday . The stock traded as high as $10.65 and last traded at $10.6420. 448,930 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,775,388 shares. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

DV has been the topic of several recent research reports. Wall Street Zen downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Canaccord Genuity Group decreased their price target on shares of DoubleVerify from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company cut their price target on shares of DoubleVerify from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DoubleVerify in a research note on Monday, April 20th. Finally, Royal Bank Of Canada cut their target price on DoubleVerify from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

DoubleVerify Trading Up 7.3%

The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The firm’s fifty day moving average price is $10.27 and its 200 day moving average price is $10.35.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. purchased a new stake in DoubleVerify in the first quarter valued at approximately $154,000. Woodline Partners LP lifted its stake in shares of DoubleVerify by 2.5% during the first quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock valued at $412,000 after buying an additional 762 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in DoubleVerify by 10.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company’s stock valued at $6,174,000 after buying an additional 43,343 shares during the period. Creative Planning increased its holdings in shares of DoubleVerify by 17.8% during the 2nd quarter. Creative Planning now owns 25,827 shares of the company’s stock worth $387,000 after buying an additional 3,900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in DoubleVerify by 624.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,635 shares of the company’s stock valued at $69,000 after buying an additional 3,995 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

About DoubleVerify

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.