DoubleVerify Holdings Inc. (NYSE: DV) stock jumped 1.89% on Tuesday to $24.74 against a previous-day closing price of $24.28. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.12 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $25.13 whereas the lowest price it dropped to was $23.96. The 52-week range on DV shows that it touched its highest point at $32.43 and its lowest point at $17.22 during that stretch. It currently has a 1-year price target of $31.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DV was up-trending over the past week, with a rise of 4.48%, but this was up by 9.71% over a month. Three-month performance dropped to -12.73% while six-month performance rose 6.45%. The stock gained 7.33% in the past year, while it has gained 12.66% so far this year. A look at the trailing 12-month EPS for DV yields 0.30 with Next year EPS estimates of 0.37. For the next quarter, that number is 0.12. This implies an EPS growth rate of 38.90% for this year and 35.79% for next year.
Float and Shares Shorts:
At present, 164.30 million DV shares are outstanding with a float of 163.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.36 million, which was 2.66% higher than short shares on Sep 14, 2022. In addition to Mr. Mark S. Zagorski as the firm’s CEO & Director, Mr. Nicola T. Allais serves as its Chief Financial Officer.
Through their ownership of 99.27% of DV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.66% of DV, in contrast to 28.37% held by mutual funds. Shares owned by individuals account for 14.42%. As the largest shareholder in DV with 3.67% of the stake, T. Rowe Price Investment Manageme holds 6,058,084 shares worth 6,058,084. A second-largest stockholder of DV, The Vanguard Group, Inc., holds 5,929,123 shares, controlling over 3.60% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in DV, holding 5,581,569 shares or 3.39% stake. With a 2.13% stake in DV, the American Funds Small Cap World Fu is the largest stakeholder. A total of 3,517,500 shares are owned by the mutual fund manager. The BlackRock Strategic Fds. – Global, which owns about 1.66% of DV stock, is the second-largest Mutual Fund holder. It holds 2,737,404 shares valued at 60.11 million. BlackRock Event Driven Equity Fun holds 1.65% of the stake in DV, owning 2,726,116 shares worth 59.87 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DV since 14 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DV analysts setting a high price target of $42.00 and a low target of $26.00, the average target price over the next 12 months is $32.33. Based on these targets, DV could surge 69.77% to reach the target high and rise by 5.09% to reach the target low. Reaching the average price target will result in a growth of 30.68% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DV will report FY 2022 earnings on 03/06/2024. Analysts have provided yearly estimates in a range of $0.75 being high and $0.25 being low. For DV, this leads to a yearly average estimate of $0.52. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. DoubleVerify Holdings Inc. surprised analysts by -$0.06 when it reported $0.06 EPS against a consensus estimate of $0.12. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is $0.23 and the low estimate is $0.15. The average estimate for the next quarter is thus $0.19.
Summary of Insider Activity:
Insiders traded DV stock several times over the past three months with 23 Buys and 37 Sells. In these transactions, 104,733 shares were bought while 23,085,704 shares were sold. The number of buy transactions has increased to 73 while that of sell transactions has risen to 116 over the past year. The total number of shares bought during that period was 1,891,766 while 34,767,069 shares were sold.