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April 21, 2021, 11:11 a.m. EDT

DoubleVerify's stock opens 30% above IPO price, valuing company at more than $5 billion

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By Tomi Kilgore

DoubleVerify Holdings Inc.'s /zigman2/quotes/226063917/composite DV -0.52% public debuted received cheers from investors, as the New York-based digital media measurement software company's stock opened 29.6% above its initial public offering price. The company said late Tuesday that its IPO priced at $27.00 a share, at the top of the expected range, as it raised $232.9 million and selling shareholders raised $127.1 million. The stock's first trade was at $35.00 at 11:02 a.m. Eastern for 1.8 million shares. At that price, the company was valued at about $5.44 billion. The stock has pared some gains since the open, to trade up 26.6% at $34.17. The company went public at a time of recent tempered investor enthusiasm for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -0.80% hsa dropped 10.5% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.01% has gained 7.8%.

/zigman2/quotes/226063917/composite
US : U.S.: NYSE
$ 36.10
-0.19 -0.52%
Volume: 595,518
July 23, 2021 4:00p
P/E Ratio
239.87
Dividend Yield
N/A
Market Cap
$5.67 billion
Rev. per Employee
$376,997
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 63.14
-0.51 -0.80%
Volume: 124,151
July 23, 2021 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,411.79
+44.31 +1.01%
Volume: 1.78B
July 23, 2021 5:16p
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