DoubleVerify (NYSE:DV) Research Coverage Started at Raymond James

Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley decreased their target price on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Scotiabank began coverage on DoubleVerify in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Piper Sandler reduced their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada dropped their price objective on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

DoubleVerify Trading Up 1.4 %

NYSE:DV opened at $19.96 on Wednesday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The company’s 50-day moving average is $19.13 and its two-hundred day moving average is $18.92.

DoubleVerify declared that its Board of Directors has approved a share buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the sale, the chief financial officer now owns 81,598 shares in the company, valued at $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 10,891 shares of company stock valued at $197,920 over the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of large investors have recently added to or reduced their stakes in DV. United Services Automobile Association boosted its position in DoubleVerify by 7.4% in the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after buying an additional 746 shares during the last quarter. Arizona State Retirement System boosted its holdings in DoubleVerify by 2.3% in the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock valued at $793,000 after purchasing an additional 927 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after purchasing an additional 1,218 shares in the last quarter. Covestor Ltd increased its holdings in DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in DoubleVerify by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock worth $6,185,000 after purchasing an additional 1,279 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.