DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.11 Average Target Price from Brokerages

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.21.

DV has been the subject of several research reports. Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Scotiabank initiated coverage on DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley reduced their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was 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 approximately $1,761,439.82. The trade was a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 7,363 shares of company stock worth $137,591. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several hedge funds have recently modified their holdings of DV. True Wealth Design LLC acquired a new stake in DoubleVerify during the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in shares of DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify during the 3rd quarter worth $49,000. KBC Group NV grew its holdings in shares of DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after acquiring an additional 1,325 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of DoubleVerify by 37.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock worth $129,000 after purchasing an additional 1,806 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Price Performance

DV opened at $19.61 on Wednesday. The business has a 50 day simple moving average of $19.61 and a 200-day simple moving average of $18.99. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The stock has a market capitalization of $3.32 billion, a P/E ratio of 53.00, a P/E/G ratio of 3.29 and a beta of 0.97.

DoubleVerify declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is 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.