DoubleVerify (NYSE:DV) Price Target Raised to $24.00

DoubleVerify (NYSE:DV) had its price objective lifted by Royal Bank of Canada from $22.00 to $24.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Raymond James initiated coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 target price on the stock. BMO Capital Markets reduced their price target on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group reduced their target price on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.21.

DoubleVerify Stock Up 1.8 %

Shares of NYSE:DV opened at $19.61 on Friday. The stock has a market capitalization of $3.32 billion, a PE ratio of 53.00, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. The firm’s 50 day moving average price is $19.61 and its 200-day moving average price is $18.99. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify declared that its board has approved a share repurchase plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 7,363 shares of company stock valued at $137,591. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of DoubleVerify

Several hedge funds have recently made changes to their positions in DV. GAMMA Investing LLC increased its stake in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of DoubleVerify by 77.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 645,233 shares of the company’s stock worth $10,866,000 after purchasing an additional 282,051 shares during the period. Principal Financial Group Inc. increased its position in shares of DoubleVerify by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after purchasing an additional 94,095 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in DoubleVerify during the 3rd quarter valued at $794,000. Finally, Ashford Capital Management Inc. lifted its position in DoubleVerify by 14.2% in the third quarter. Ashford Capital Management Inc. now owns 740,880 shares of the company’s stock worth $12,476,000 after buying an additional 92,020 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.