DoubleVerify (NYSE:DV) Given New $19.00 Price Target at Morgan Stanley

DoubleVerify (NYSE:DV) had its target price dropped by investment analysts at Morgan Stanley from $21.00 to $19.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 1.14% from the stock’s current price.

Several other research analysts also recently weighed in on DV. Royal Bank of Canada upped their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Raymond James assumed coverage on DoubleVerify in a research note on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target for the company. Scotiabank initiated coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Friday, January 10th. Finally, Piper Sandler reduced their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.11.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $19.22 on Monday. The stock’s 50-day moving average is $19.90 and its 200 day moving average is $19.01. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 51.95, a PEG ratio of 3.18 and a beta of 0.98.

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

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 5,599 shares of company stock valued at $107,233 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in DoubleVerify in the 3rd quarter worth approximately $29,000. GAMMA Investing LLC grew its position in DoubleVerify by 73.6% in 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 in the last quarter. Capital Performance Advisors LLP bought a new position in DoubleVerify in the third quarter valued at $49,000. KBC Group NV raised its position in DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Covestor Ltd raised its position in DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.