DoubleVerify’s (DV) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of DoubleVerify (NYSE:DV) in a report published on Friday morning,Benzinga reports. They currently have a $25.00 target price on the stock.

Several other equities research analysts have also commented on DV. Truist Financial cut their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Piper Sandler cut their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Canaccord Genuity Group cut their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $24.21.

DoubleVerify Trading Down 3.2 %

NYSE DV opened at $19.32 on Friday. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The business’s 50-day moving average price is $19.85 and its two-hundred day moving average price is $19.01. The firm has a market capitalization of $3.27 billion, a PE ratio of 52.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.97.

DoubleVerify announced that its board has initiated a stock buyback plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify 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 sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 5,599 shares of company stock valued at $107,233. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in shares of DoubleVerify in the third quarter worth about $794,000. Mackenzie Financial Corp purchased a new position in shares of DoubleVerify in the second quarter worth about $53,015,000. GSA Capital Partners LLP increased its holdings in shares of DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after buying an additional 53,326 shares during the period. Repertoire Partners LP increased its holdings in shares of DoubleVerify by 1,041.7% in the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after buying an additional 625,000 shares during the period. Finally, Townsend Asset Management Corp NC ADV increased its holdings in shares of DoubleVerify by 259.8% in the third quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after buying an additional 79,145 shares during the period. Institutional investors own 97.29% of the company’s stock.

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.