DoubleVerify (NYSE:DV) Hits New 12-Month Low – What’s Next?

DoubleVerify Holdings, Inc. (NYSE:DV) reached a new 52-week low during trading on Friday . The stock traded as low as $13.18 and last traded at $13.23, with a volume of 622530 shares. The stock had previously closed at $13.99.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus set a $20.00 price objective on shares of DoubleVerify in a report on Friday, February 28th. Morgan Stanley reduced their price objective on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Raymond James assumed coverage on shares of DoubleVerify in a report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of DoubleVerify in a report on Friday, February 28th. Finally, Baird R W cut shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.00.

DoubleVerify Stock Performance

The stock’s fifty day simple moving average is $18.53 and its two-hundred day simple moving average is $18.65. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Trading of DoubleVerify

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of DoubleVerify by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock worth $335,816,000 after buying an additional 143,773 shares during the period. Mackenzie Financial Corp increased its position in shares of DoubleVerify by 20.1% during the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock worth $108,753,000 after acquiring an additional 948,529 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after acquiring an additional 2,073,279 shares in the last quarter. AQR Capital Management LLC boosted its holdings in DoubleVerify by 29.5% in the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock valued at $50,002,000 after purchasing an additional 592,435 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after purchasing an additional 19,684 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Company Profile

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.