In a recent research note issued on September 26, 2023, Needham & Company LLC reaffirmed its “buy” rating for DoubleVerify (NYSE:DV) stock. Alongside the rating, the company also provided a price objective of $45.00 per share, suggesting a potential upside of 63.52% from the stock’s previous closing price.
Shares of DV stock opened at $27.52 on Tuesday, indicating a fluctuation in value. The business’s 50-day moving average price is $33.64, while its 200-day moving average price is $32.75. This demonstrates some volatility in the stock’s performance.
Over the past year, DoubleVerify has seen a trading range between $20.38 and $42.51—representing its 12-month low and high respectively. These milestones showcase significant fluctuations in the stock’s value over time.
DoubleVerify currently holds a market capitalization of approximately $4.61 billion and operates with a price-to-earnings ratio of 91.73, reflecting investors’ expectations for future growth prospects relative to earnings generation capabilities.
Several hedge funds and institutional investors have recently adjusted their positions within DoubleVerify based on their analysis of various market factors impacting the company’s performance.
BlackRock Inc., for instance, increased its holdings in DoubleVerify by 2.2% during the second quarter—an addition of approximately 362,948 shares valued at $657,742,000—with T Rowe Price Investment Management Inc., Vanguard Group Inc., Price T Rowe Associates Inc., and 1832 Asset Management L.P implementing similar adjustments to their positions.
On July 31st of this year, DoubleVerify released its earnings results for the quarter ending that same month. The company reported an earnings per share (EPS) figure of $0.07—exceeding analysts’ consensus estimates by $0.01 per share.
During the same quarter, DoubleVerify achieved a revenue of $133.74 million, surpassing analysts’ expectations of $133.39 million. These figures indicate growth for the company as its revenue for the quarter was up by 21.8% compared to the corresponding period in the previous year.
Furthermore, DoubleVerify demonstrated a net margin of 10.64% and a return on equity (ROE) of 6.01%. These indicators suggest the efficiency with which DoubleVerify manages its operations and generates profits.
Based on sell-side analysts’ predictions, it is forecasted that DoubleVerify will post an earnings per share figure of 0.35 for the current fiscal year.
Considering these factors, Needham & Company LLC’s reissued “buy” rating for DoubleVerify’s stock highlights their continued confidence in the company’s future prospects and growth potential.
As with any investment decision, it is advisable for individual investors to conduct thorough research and analysis before making any judgments or decisions regarding DoubleVerify’s stock in order to align investments with personal financial goals and risk tolerance levels.
Stock Analysis and Insider Transactions: DoubleVerify’s Investment Landscape
September 26, 2023 – In the midst of a flurry of activities surrounding DoubleVerify, analysts have been analyzing the company’s stock and providing their assessments. Recently, several analysts expressed their opinions on the stock, each offering different perspectives.
One of the analysts, KeyCorp, lowered their target price for DoubleVerify shares from $45.00 to $41.00. However, they maintained an “overweight” rating for the company in their research report released on September 11th. Truist Financial took a more optimistic stance by raising their price target from $38.00 to $45.00 and providing a “buy” rating in a research report published on July 20th.
Loop Capital also showed positive sentiment towards DoubleVerify by increasing their target price from $35.00 to $50.00 in a research note dated July 27th. On the other hand, The Goldman Sachs Group upped their price objective from $35.00 to $40.00 in a report issued on July 17th.
Meanwhile, Piper Sandler’s analysis resulted in a decrease of the price target for DoubleVerify shares from $45.00 to $40.00 but still upheld an “overweight” rating for the stock in their report released on September 15th.
With one hold rating and thirteen buy ratings received by the company’s stock as per Bloomberg.com data, DoubleVerify currently holds a consensus rating of “Moderate Buy.” The average price target for DoubleVerify has been determined as $42.47 based on these assessments.
As shareholders analyze investment opportunities, it is crucial to consider recent insider activities within DoubleVerify as well.
Director Laura Desmond made headlines after selling 11,002 shares of DoubleVerify’s stock on Tuesday, July 25th at an average price of $40.32 per share amounting to a total transaction value of $443,600.64 according to a filing with the SEC. The director now maintains ownership of 179,071 shares of the company’s stock worth approximately $7,220,142.72.
Furthermore, insider Julie Eddleman conducted a stock transaction involving DoubleVerify on Tuesday, July 11th. Eddleman sold 750 shares at an average price of $38.87 per share, resulting in a total transaction amounting to $29,152.50. Following this sale, Eddleman now holds 130,121 shares worth $5,057,803.27.
These transactions were fully disclosed and can be accessed through the SEC website.
It is noteworthy that corporate insiders have actively participated in trading DoubleVerify’s stock over the past three months. In total, they have sold approximately 25,171,117 shares valued at $818,491,807. These activities indicate that corporate insiders currently own approximately 3.27% of the company’s stock.
Considering both analyst opinions and recent insider transactions provide investors with valuable insights when making well-informed decisions regarding their investments in DoubleVerify.