DoubleVerify (NYSE:DV) Sees Strong Trading Volume – Still a Buy?

DoubleVerify Holdings, Inc. (NYSE:DV) saw unusually-high trading volume on Tuesday . 3,845,307 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 3,103,337 shares.The stock last traded at $13.2350 and had previously closed at $13.22.

Analysts Set New Price Targets

DV has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Truist Financial cut DoubleVerify from a “buy” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $13.60 in a research note on Friday, August 7th. Raymond James Financial downgraded DoubleVerify from an “outperform” rating to a “market perform” rating in a report on Friday, August 7th. BMO Capital Markets set a $13.60 price objective on DoubleVerify in a report on Friday, August 7th. Finally, Citizens Jmp lowered DoubleVerify from a “market outperform” rating to a “hold” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.18.

DoubleVerify Stock Performance

The business’s 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $10.48. The firm has a market capitalization of $2.06 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98. The company has a current ratio of 4.50, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of DoubleVerify by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 133,120 shares of the company’s stock worth $1,993,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP boosted its stake in shares of DoubleVerify by 2.5% during the 1st quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock worth $412,000 after acquiring an additional 762 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of DoubleVerify by 2.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 44,027 shares of the company’s stock valued at $504,000 after buying an additional 1,098 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in DoubleVerify by 4.1% in the 4th quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock worth $347,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Xponance LLC lifted its holdings in DoubleVerify by 9.9% during the fourth quarter. Xponance LLC now owns 14,141 shares of the company’s stock valued at $162,000 after purchasing an additional 1,275 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.