Barclays Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV - Get Free Report) had its target price reduced by investment analysts at Barclays from $27.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 26.79% from the stock's previous close.

DV has been the topic of several other reports. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on DoubleVerify from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Scotiabank initiated coverage on DoubleVerify in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $25.00 target price on shares of DoubleVerify in a research report on Friday, January 10th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.00.

DoubleVerify Trading Down 0.9 %

DV traded down $0.18 during midday trading on Thursday, hitting $19.72. 750,517 shares of the company traded hands, compared to its average volume of 1,591,807. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 2.35 and a beta of 0.98. The business has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $19.00. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00.

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 outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the firm's stock in a transaction that occurred 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 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 filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new position in DoubleVerify in the second quarter valued at $53,015,000. Disciplined Growth Investors Inc. MN acquired a new position in shares of DoubleVerify in the 3rd quarter valued at $19,457,000. Dimensional Fund Advisors LP grew its position in shares of DoubleVerify by 36.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company's stock valued at $47,154,000 after buying an additional 643,679 shares during the last quarter. Repertoire Partners LP raised its stake in DoubleVerify by 1,041.7% during the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company's stock worth $11,535,000 after acquiring an additional 625,000 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of DoubleVerify by 311.4% in the 3rd quarter. Algert Global LLC now owns 615,275 shares of the company's stock valued at $10,361,000 after purchasing an additional 465,729 shares during the last quarter. 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.