JMP Securities Reiterates "Market Outperform" Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV - Get Free Report)'s stock had its "market outperform" rating reissued by equities researchers at JMP Securities in a research report issued on Friday,Benzinga reports. They presently have a $25.00 price target on the stock. JMP Securities' price target would indicate a potential upside of 29.40% from the stock's previous close.

Several other research analysts have also recently commented on DV. JPMorgan Chase & Co. lowered their target price on DoubleVerify from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their target price on DoubleVerify from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group cut their target price on DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They issued an "underweight" rating and a $14.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.21.

DoubleVerify Stock Down 3.2 %

Shares of NYSE:DV traded down $0.64 during trading on Friday, hitting $19.32. The stock had a trading volume of 2,646,179 shares, compared to its average volume of 2,003,613. The stock has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $19.01. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 52.22, a price-to-earnings-growth ratio of 3.29 and a beta of 0.98. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 5,599 shares of company stock worth $107,233 in the last 90 days. Corporate insiders own 3.00% of the company's stock.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its position in DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company's stock worth $69,440,000 after buying an additional 360,445 shares during the last quarter. Burgundy Asset Management Ltd. bought a new stake in DoubleVerify during the second quarter valued at $54,099,000. Mackenzie Financial Corp bought a new stake in DoubleVerify during the second quarter worth about $53,015,000. Geneva Capital Management LLC lifted its stake in DoubleVerify by 2.8% during the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company's stock worth $43,017,000 after purchasing an additional 69,780 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in DoubleVerify by 36.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company's stock worth $47,154,000 after purchasing an additional 643,679 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.