Canaccord Genuity Group Lowers DoubleVerify (NYSE:DV) Price Target to $26.00

DoubleVerify (NYSE:DV - Get Free Report) had its price target decreased by equities researchers at Canaccord Genuity Group from $30.00 to $26.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 74.50% from the company's previous close.

A number of other research analysts have also commented on DV. The Goldman Sachs Group restated a "neutral" rating and issued a $20.00 target price (down from $24.00) on shares of DoubleVerify in a research note on Friday. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price objective on shares of DoubleVerify in a report on Monday, January 27th. Needham & Company LLC reissued a "buy" rating and issued a $22.00 target price on shares of DoubleVerify in a research note on Wednesday, December 11th. Raymond James began coverage on shares of DoubleVerify in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $25.00 price target for the company. Finally, Scotiabank assumed coverage on DoubleVerify in a report on Thursday, December 5th. They set a "sector outperform" rating and a $24.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, DoubleVerify presently has an average rating of "Moderate Buy" and an average target price of $23.37.

DoubleVerify Trading Up 7.2 %

DV stock traded up $1.00 during trading on Friday, reaching $14.90. 8,302,346 shares of the stock were exchanged, compared to its average volume of 1,973,331. The stock has a 50 day simple moving average of $20.45 and a 200-day simple moving average of $19.28. The company has a market capitalization of $2.52 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99. DoubleVerify has a twelve month low of $13.42 and a twelve month high of $35.57.

DoubleVerify declared that its board has initiated a stock repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically 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 2,220 shares of DoubleVerify stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company's stock, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of DoubleVerify by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company's stock valued at $335,816,000 after buying an additional 143,773 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of DoubleVerify by 20.1% during the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company's stock worth $108,753,000 after acquiring an additional 948,529 shares during the period. Burgundy Asset Management Ltd. lifted its position in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company's stock valued at $94,262,000 after acquiring an additional 2,073,279 shares in the last quarter. AQR Capital Management LLC boosted its stake in DoubleVerify by 29.5% in the 4th quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company's stock worth $50,002,000 after purchasing an additional 592,435 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company's stock worth $49,450,000 after purchasing an additional 19,684 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.