BMO Capital Markets Reiterates “Outperform” Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “outperform” rating reaffirmed by stock analysts at BMO Capital Markets in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $26.00 price target on the stock, up from their previous price target of $25.00. BMO Capital Markets’ price objective indicates a potential upside of 77.17% from the company’s previous close.

DV has been the topic of a number of other research reports. Baird R W lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 28th. Canaccord Genuity Group cut their target price on shares of DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of DoubleVerify in a research report on Thursday. Stifel Nicolaus increased their target price on shares of DoubleVerify from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America raised shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

DoubleVerify Stock Up 1.2%

Shares of NYSE DV traded up $0.18 during midday trading on Thursday, hitting $14.68. The stock had a trading volume of 1,409,095 shares, compared to its average volume of 2,366,135. The company has a market cap of $2.38 billion, a P/E ratio of 39.64, a PEG ratio of 2.63 and a beta of 1.03. The business’s 50 day moving average is $13.57 and its 200-day moving average is $16.85. DoubleVerify has a 52 week low of $11.52 and a 52 week high of $23.11.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DV. Burgundy Asset Management Ltd. grew its stake in shares of DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after buying an additional 2,073,279 shares in the last quarter. Norges Bank acquired a new position in DoubleVerify during the 4th quarter valued at approximately $33,957,000. Sunriver Management LLC acquired a new stake in shares of DoubleVerify during the 1st quarter worth approximately $22,485,000. Federated Hermes Inc. increased its stake in DoubleVerify by 17,284.0% during the 1st quarter. Federated Hermes Inc. now owns 1,663,821 shares of the company’s stock worth $22,245,000 after buying an additional 1,654,250 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of DoubleVerify in the fourth quarter worth about $31,579,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.