DoubleVerify (NYSE:DV) Rating Increased to Neutral at Bank of America

DoubleVerify (NYSE:DV - Get Free Report) was upgraded by investment analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

DV has been the topic of a number of other research reports. Scotiabank assumed coverage on DoubleVerify in a research note on Thursday, December 5th. They set a "sector outperform" rating and a $24.00 target price on the stock. Truist Financial reduced their target price on DoubleVerify from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $20.00 price target (down from $24.00) on shares of DoubleVerify in a report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price objective on shares of DoubleVerify in a research report on Wednesday, December 11th. Finally, Raymond James initiated coverage on DoubleVerify in a report on Wednesday, December 18th. They set an "outperform" rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

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DoubleVerify Stock Performance

NYSE DV traded down $0.66 on Friday, hitting $14.25. 4,333,804 shares of the stock were exchanged, compared to its average volume of 2,030,874. DoubleVerify has a 52-week low of $13.42 and a 52-week high of $35.57. The firm has a market capitalization of $2.41 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.63 and a beta of 0.99. The stock has a fifty day moving average price of $20.45 and a two-hundred day moving average price of $19.28.

DoubleVerify announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,220 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DV. True Wealth Design LLC acquired a new stake in DoubleVerify during the 3rd quarter worth about $29,000. Smartleaf Asset Management LLC increased its holdings in shares of DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company's stock valued at $30,000 after purchasing an additional 981 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company's stock valued at $39,000 after purchasing an additional 863 shares during the period. Quadrant Capital Group LLC boosted its holdings in DoubleVerify by 171.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company's stock worth $39,000 after buying an additional 1,285 shares in the last quarter. Finally, Allianz SE acquired a new stake in DoubleVerify during the fourth quarter valued at $41,000. Hedge funds and other 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.