Investment analysts at Raymond James started coverage on shares of DoubleVerify (NYSE:DV - Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an "outperform" rating and a $25.00 price target on the stock. Raymond James' price target indicates a potential upside of 25.94% from the stock's current price.
Several other equities research analysts also recently weighed in on DV. Scotiabank assumed coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 target price on the stock. The Goldman Sachs Group reduced their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Morgan Stanley dropped their target price on DoubleVerify from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company began coverage on DoubleVerify in a report on Monday, October 28th. They issued an "underweight" rating and a $14.00 price target on the stock. Finally, Canaccord Genuity Group decreased their price target on DoubleVerify from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, DoubleVerify has a consensus rating of "Moderate Buy" and a consensus target price of $24.11.
Check Out Our Latest Stock Report on DoubleVerify
DoubleVerify Stock Performance
Shares of NYSE:DV traded down $0.10 on Wednesday, reaching $19.85. The company's stock had a trading volume of 2,055,406 shares, compared to its average volume of 2,292,197. The company has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $18.90. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00. The company has a market cap of $3.36 billion, a P/E ratio of 53.65, a PEG ratio of 3.29 and a beta of 0.97.
DoubleVerify declared that its Board of Directors has approved a share repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, CFO Nicola T. Allais sold 1,764 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,656,439.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,820 shares of company stock worth $155,444 over the last 90 days. Company insiders own 3.00% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. CWM LLC increased its position in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company's stock valued at $54,000 after buying an additional 1,900 shares in the last quarter. Fifth Third Bancorp boosted its stake in DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company's stock worth $81,000 after purchasing an additional 1,742 shares in the last quarter. Louisiana State Employees Retirement System grew its position in DoubleVerify by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 70,900 shares of the company's stock worth $1,380,000 after purchasing an additional 1,900 shares during the last quarter. Townsend Asset Management Corp NC ADV increased its stake in DoubleVerify by 174.2% during the 2nd quarter. Townsend Asset Management Corp NC ADV now owns 30,465 shares of the company's stock valued at $593,000 after purchasing an additional 19,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DoubleVerify by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,572 shares of the company's stock worth $712,000 after buying an additional 8,335 shares during the last quarter. Institutional investors own 97.29% of the company's stock.
About DoubleVerify
(
Get Free Report)
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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