DoubleVerify (NYSE:DV - Free Report) had its target price lifted by Barclays from $23.00 to $27.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.
DV has been the topic of a number of other reports. Scotiabank started coverage on DoubleVerify in a report on Thursday. They set a "sector outperform" rating and a $24.00 price objective on the stock. Wells Fargo & Company assumed coverage on DoubleVerify in a research note on Monday, October 28th. They issued an "underweight" rating and a $14.00 price target on the stock. JMP Securities dropped their price objective on DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating for the company in a research note on Thursday, November 7th. Morgan Stanley reduced their target price 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. Finally, Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.67.
Read Our Latest Report on DoubleVerify
DoubleVerify Stock Performance
Shares of NYSE:DV traded up $0.11 during midday trading on Friday, reaching $20.67. 743,094 shares of the company's stock were exchanged, compared to its average volume of 1,975,047. The company's 50 day simple moving average is $18.48 and its two-hundred day simple moving average is $18.81. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The firm has a market capitalization of $3.50 billion, a PE ratio of 55.85, a price-to-earnings-growth ratio of 3.34 and a beta of 0.97.
DoubleVerify declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.
Insider Transactions at DoubleVerify
In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the transaction, the chief financial officer now owns 81,598 shares of the company's stock, valued at approximately $1,380,638.16. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 8,820 shares of company stock worth $155,444 in the last quarter. 3.00% of the stock is owned by company insiders.
Institutional Trading of DoubleVerify
A number of institutional investors and hedge funds have recently modified their holdings of DV. Cetera Investment Advisers grew its stake in DoubleVerify by 91.1% in the first quarter. Cetera Investment Advisers now owns 126,152 shares of the company's stock valued at $4,436,000 after acquiring an additional 60,146 shares during the period. Harbor Capital Advisors Inc. increased its stake in DoubleVerify by 119.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,944 shares of the company's stock worth $174,000 after purchasing an additional 4,873 shares in the last quarter. CWM LLC raised its holdings in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company's stock worth $54,000 after buying an additional 1,900 shares during the period. SG Americas Securities LLC bought a new position in DoubleVerify in the second quarter valued at approximately $558,000. Finally, Dnca Finance acquired a new position in shares of DoubleVerify in the second quarter valued at approximately $6,016,000. 97.29% of the stock is owned by institutional investors.
About DoubleVerify
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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.
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