DoubleVerify (NYSE:DV - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at The Goldman Sachs Group in a note issued to investors on Friday, MarketBeat reports. They presently have a $20.00 price objective on the stock, down from their prior price objective of $24.00. The Goldman Sachs Group's price target suggests a potential upside of 40.40% from the company's current price.
A number of other brokerages have also weighed in on DV. JMP Securities reiterated 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 reaffirmed a "buy" rating and set a $22.00 price target on shares of DoubleVerify in a research note on Wednesday, December 11th. Macquarie reissued an "outperform" rating and issued a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Truist Financial reduced their price objective on DoubleVerify from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Canaccord Genuity Group lowered their target price on DoubleVerify from $36.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.
Check Out Our Latest Analysis on DV
DoubleVerify Stock Performance
DV stock traded down $0.66 during midday trading on Friday, reaching $14.25. The company's stock had a trading volume of 4,331,282 shares, compared to its average volume of 2,030,860. DoubleVerify has a 1 year low of $13.42 and a 1 year high of $35.57. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.63 and a beta of 0.99. The stock has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $19.28.
DoubleVerify announced that its board has authorized a share buyback program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling
In other news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On DoubleVerify
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of DoubleVerify in the third quarter valued at about $472,000. Harvey Capital Management Inc. purchased a new stake in DoubleVerify in the third quarter valued at approximately $462,000. Robeco Institutional Asset Management B.V. purchased a new position in DoubleVerify during the 3rd quarter worth approximately $1,323,000. M&G PLC raised its position in DoubleVerify by 3.0% during the 3rd quarter. M&G PLC now owns 501,171 shares of the company's stock worth $8,520,000 after buying an additional 14,392 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of DoubleVerify by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company's stock valued at $34,264,000 after acquiring an additional 94,095 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.
About DoubleVerify
(
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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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