DoubleVerify (DV) Stock Jumps 5.7%: Will It Continue to Soar?
DoubleVerify Holdings (DV) shares rallied 5.7% in the last trading session to close at $31.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.6% gain over the past four weeks.
The upswing in DoubleVerify’s share price reflects strong prospects. DV is expected to report double digit top-line growth in third-quarter 2022. The company is benefitting from its diversified customer base globally that includes the likes of Dell, Amazon, Vodafone and John Lewis. This will positively impact the top-line growth of the company in the third quarter of 2022.
This software platform for digital media measurement and analytics is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $109.24 million, up 31.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For DoubleVerify, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
DoubleVerify is part of the Zacks Internet - Software industry. Everbridge (EVBG), another stock in the same industry, closed the last trading session 9.2% higher at $32.26. EVBG has returned 0.8% in the past month.
For Everbridge , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +240% from what the company reported a year ago. Everbridge currently has a Zacks Rank of #1 (Strong Buy).
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