Morgan Stanley Cuts DoubleVerify (NYSE:DV) Price Target to $17.00

DoubleVerify (NYSE:DV - Get Free Report) had its price target cut by equities researchers at Morgan Stanley from $18.50 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 36.56% from the company's previous close.

Several other equities analysts have also recently issued reports on DV. Royal Bank of Canada raised their price objective on DoubleVerify from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Robert W. Baird reiterated a "neutral" rating and set a $14.00 price objective (down previously from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. Raymond James initiated coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an "outperform" rating and a $25.00 price target on the stock. Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating for the company in a report on Thursday. Finally, JMP Securities reissued a "market outperform" rating and set a $25.00 target price on shares of DoubleVerify in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, DoubleVerify has an average rating of "Hold" and an average price target of $21.38.

DoubleVerify Price Performance

NYSE DV traded up $0.38 during trading hours on Thursday, hitting $12.45. The company had a trading volume of 673,582 shares, compared to its average volume of 2,423,762. DoubleVerify has a fifty-two week low of $11.52 and a fifty-two week high of $31.15. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.63 and a beta of 1.04. The firm's 50 day moving average is $16.11 and its 200 day moving average is $18.14.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company's stock, valued at $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Burgundy Asset Management Ltd. boosted its position in DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company's stock valued at $94,262,000 after buying an additional 2,073,279 shares in the last quarter. Norges Bank acquired a new stake in shares of DoubleVerify in the fourth quarter valued at approximately $33,957,000. BNP Paribas Financial Markets acquired a new position in DoubleVerify during the 4th quarter worth $31,579,000. Alta Fox Capital Management LLC acquired a new stake in shares of DoubleVerify in the 4th quarter valued at $24,267,000. Finally, Mackenzie Financial Corp raised its position 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 last quarter. 97.29% of the stock is owned by 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.

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