Brokerages Set DoubleVerify Holdings, Inc. (NYSE:DV) Target Price at $24.47

DoubleVerify Holdings, Inc. (NYSE:DV) has received an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.47.

Several equities analysts recently weighed in on DV shares. Truist Financial cut their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets cut their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus decreased their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada cut their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 7,056 shares of company stock worth $119,634 in the last ninety days. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. United Services Automobile Association lifted its position in shares of DoubleVerify by 7.4% during the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after purchasing an additional 746 shares during the last quarter. Arizona State Retirement System lifted its holdings in DoubleVerify by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after buying an additional 927 shares during the last quarter. Gagnon Securities LLC lifted its holdings in DoubleVerify by 1.2% during the 1st quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock worth $3,024,000 after buying an additional 1,045 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after acquiring an additional 1,218 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Stock Performance

DoubleVerify stock opened at $20.05 on Tuesday. The business’s 50-day simple moving average is $17.60 and its two-hundred day simple moving average is $19.23. The company has a market cap of $3.39 billion, a PE ratio of 54.19, a PEG ratio of 2.43 and a beta of 0.90. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

DoubleVerify declared that its Board of Directors has approved a share repurchase program on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.