Canaccord Genuity Group Cuts DoubleVerify (NYSE:DV) Price Target to $16.00

DoubleVerify (NYSE:DVFree Report) had its price target decreased by Canaccord Genuity Group from $18.00 to $16.00 in a report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

DV has been the subject of a number of other reports. Morgan Stanley boosted their target price on shares of DoubleVerify from $15.00 to $15.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. reduced their price objective on DoubleVerify from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Barclays reissued an “equal weight” rating and issued a $12.00 target price on shares of DoubleVerify in a research report on Monday, January 12th. Zacks Research lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Finally, Stifel Nicolaus dropped their price objective on shares of DoubleVerify from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.94.

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DoubleVerify Price Performance

DoubleVerify stock opened at $10.58 on Friday. DoubleVerify has a one year low of $7.64 and a one year high of $17.08. The business’s fifty day moving average is $10.45 and its 200 day moving average is $11.61. The stock has a market capitalization of $1.71 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.98.

DoubleVerify (NYSE:DVGet Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). DoubleVerify had a net margin of 6.77% and a return on equity of 7.50%. The company had revenue of $205.59 million for the quarter, compared to the consensus estimate of $208.77 million. During the same quarter in the prior year, the company posted $0.13 EPS. DoubleVerify’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that DoubleVerify will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently bought and sold shares of DV. Vanguard Group Inc. lifted its position in shares of DoubleVerify by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,776,618 shares of the company’s stock valued at $169,045,000 after acquiring an additional 360,055 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in DoubleVerify by 1.3% in the 4th quarter. Mackenzie Financial Corp now owns 5,662,133 shares of the company’s stock worth $64,986,000 after purchasing an additional 74,051 shares in the last quarter. AQR Capital Management LLC lifted its holdings in DoubleVerify by 123.4% in the 4th quarter. AQR Capital Management LLC now owns 5,254,565 shares of the company’s stock worth $60,112,000 after purchasing an additional 2,902,169 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in DoubleVerify by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,970,550 shares of the company’s stock worth $45,424,000 after purchasing an additional 234,139 shares during the period. Finally, Van Berkom & Associates Inc. grew its holdings in DoubleVerify by 2.6% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,739,071 shares of the company’s stock valued at $44,794,000 after buying an additional 95,235 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Key DoubleVerify News

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About DoubleVerify

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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.

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