DoubleVerify Holdings, Inc. (NYSE:DV) Given Average Recommendation of “Moderate Buy” by Analysts

DoubleVerify Holdings, Inc. (NYSE:DV) has earned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.67.

A number of equities research analysts have issued reports on the company. Scotiabank assumed coverage on DoubleVerify in a research note on Thursday. They issued a “sector outperform” rating and a $24.00 target price on the stock. Barclays raised their target price on DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada lowered their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Finally, BMO Capital Markets lowered their price target on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th.

DoubleVerify Price Performance

Shares of DV opened at $20.67 on Friday. The business’s fifty day moving average price is $18.41 and its 200 day moving average price is $18.80. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The stock has a market capitalization of $3.50 billion, a PE ratio of 55.85, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has approved a share buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,380,638.16. The trade was a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors have recently made changes to their positions in the company. True Wealth Design LLC bought a new position in DoubleVerify in the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify during the third quarter valued at approximately $49,000. CWM LLC increased its position in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp increased its position in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after purchasing an additional 1,742 shares during the period. Finally, KBC Group NV increased its position in shares of DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after purchasing an additional 1,325 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About DoubleVerify

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.