On September 19, 2023, it was reported that Harbor Capital Advisors Inc. had purchased a new stake in DoubleVerify Holdings, Inc. The investment firm acquired 16,678 shares of the company’s stock, valued at approximately $649,000. This news indicates confidence in the future prospects of DoubleVerify.
DoubleVerify (NYSE:DV) recently announced its quarterly earnings results on July 31st. The company reported earnings per share of $0.07 for the quarter, surpassing analysts’ consensus estimates of $0.06 by $0.01. Furthermore, DoubleVerify generated revenue of $133.74 million for the quarter, slightly exceeding analysts’ expectations of $133.39 million. These positive financial results demonstrate the company’s solid performance and growth potential.
With a return on equity of 6.01% and a net margin of 10.64%, DoubleVerify has proven to be a profitable business entity in its industry. Moreover, the company’s revenue increased by 21.8% compared to the same quarter last year, indicating successful growth initiatives.
Research analysts predict that DoubleVerify Holdings, Inc. will post an EPS of 0.36 for the current fiscal year based on its strong performance thus far.
Several analysts have provided their insights on DoubleVerify and its stock value. The Goldman Sachs Group increased their price objective from $35.00 to $40.00 in a research note on July 17th, which suggests optimism about the company’s potential for growth and profitability.
Wells Fargo & Company initiated coverage on DoubleVerify and assigned an “overweight” rating with a price objective of $44.00 for the stock on June 27th.
Robert W. Baird also began covering DoubleVerify and assigned an “outperform” rating along with a price objective of $38.00 for the company’s stock on August 18th.
Piper Sandler reduced their price objective for DoubleVerify from $45.00 to $40.00 but maintained an “overweight” rating for the stock in a research note.
Lastly, Needham & Company LLC reiterated a “buy” rating and set a target price of $45.00 on shares of DoubleVerify in a research report.
In summary, analysts have generally provided positive ratings and target prices for DoubleVerify, suggesting that the company holds promise for investors. With its strong financial performance and growth potential, DoubleVerify Holdings, Inc. appears to be well-positioned for future success in the market.
Curtiss-Wright Corporation
CW
Strong Buy
Updated on: 27/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
DoubleVerify Sees Increased Interest from Institutional Investors and Hedge Funds
DoubleVerify Holdings, Inc. (DV) has seen significant activity from institutional investors and hedge funds recently. Several notable players in the financial sphere have made changes to their positions in DV, indicating potential shifts in market sentiment.
Assetmark Inc., for example, has significantly increased its holdings in DoubleVerify by 102.7% during the fourth quarter. The company now owns 1,273 shares of DV’s stock, valued at $28,000 after purchasing an additional 645 shares.
First Horizon Advisors Inc., another institutional investor, raised its stake in DoubleVerify by 106.1% during the first quarter. It now holds 1,698 shares of the company’s stock with a value of $51,000 after acquiring an additional 874 shares.
Clear Street Markets LLC and Harvest Fund Management Co. Ltd are among the other investors who have entered into positions with DoubleVerify more recently. Clear Street Markets purchased a new stake in DV during the fourth quarter valued at approximately $56,000 while Harvest Fund Management acquired a new stake during the first quarter valued at around $60,000.
Fifth Third Bancorp also joined this trend as it purchased a new stake in DoubleVerify during the first quarter worth approximately $63,000. With these significant moves by various institutional investors and hedge funds, it is evident that there is growing interest and confidence in the future prospects of DoubleVerify.
It is worth noting that nearly 97.29% of DV’s stock is owned by hedge funds and other institutional investors. This high percentage suggests that there is strong trust placed on DoubleVerify’s performance and potential for growth within these circles.
In addition to these investment activities, there have been notable insider sales within DoubleVerify as well. CFO Nicola T. Allais sold 9,231 shares of DV stock on June 27th at an average price of $37.71 per share, totaling $348,101.01. Following this sale, Allais now holds 59,674 shares in the company valued at approximately $2,250,306.54.
Director Laura Desmond has also sold 11,002 shares of DV stock on July 25th at an average price of $40.32 per share, amounting to a total transaction value of $443,600.64. After this transaction, Desmond owns 179,071 shares of DoubleVerify with an approximate value of $7,220,142.72.
These insider sales provide insight into the actions and outlook of key individuals within the organization. It is important for investors to take note of these transactions as they may indicate insiders’ perspectives on the future direction of DoubleVerify.
As for its market performance, DoubleVerify opened at $28.21 on September 19th with a market capitalization of $4.72 billion. The stock has a price-to-earnings ratio (P/E) of 94.03 and a beta rating of 0.94.
Over the past year, DV’s stock has ranged from a low of $20.38 to a high of $42.51. Currently, it maintains a 50-day simple moving average price of $34.85 and a 200-day simple moving average price of $32.70.
In conclusion, DoubleVerify is garnering attention from institutional investors and hedge funds who are making notable changes to their positions in DV’s stock. The surge in interest may indicate growing confidence in the company’s future prospects and potential for growth in the coming months and years ahead.
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