DoubleVerify (NYSE:DV) Board of Directors Initiates Stock Buyback Program

DoubleVerify (NYSE:DV) declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 6th, RTT News reports. The company plans to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DV. Morgan Stanley lowered their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets lowered their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group cut their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wells Fargo & Company started coverage on DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Performance

Shares of DV stock opened at $19.34 on Friday. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 2.44 and a beta of 0.90. The firm’s 50-day moving average is $17.54 and its 200-day moving average is $19.59.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. Sell-side analysts predict that DoubleVerify will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,380,638.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 7,056 shares of company stock valued at $119,634 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

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.