Truist Financial Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV - Get Free Report) had its target price decreased by analysts at Truist Financial from $26.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price would suggest a potential upside of 16.66% from the company's previous close.

A number of other research analysts have also weighed in on DV. JMP Securities reduced their price objective on DoubleVerify from $34.00 to $33.00 and set a "market outperform" rating for the company in a research report on Wednesday, October 23rd. Macquarie dropped their target price on shares of DoubleVerify from $25.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, October 11th. Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an "underweight" rating and a $14.00 price target for the company. Barclays reduced their price objective on DoubleVerify from $27.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, BMO Capital Markets decreased their target price on shares of DoubleVerify from $38.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.47.

DoubleVerify Stock Up 0.8 %

Shares of DV stock traded up $0.16 on Thursday, reaching $19.72. The company's stock had a trading volume of 5,259,088 shares, compared to its average volume of 2,369,863. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The company has a market capitalization of $3.35 billion, a P/E ratio of 56.66, a PEG ratio of 2.44 and a beta of 0.90. The stock's 50 day simple moving average is $17.54 and its 200-day simple moving average is $19.59.

DoubleVerify (NYSE:DV - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $169.56 million for the quarter, compared to analyst estimates of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. Research analysts expect that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify declared that its board has authorized a share repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at $1,410,013.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DV. Whittier Trust Co. purchased a new position in DoubleVerify during the 1st quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in DoubleVerify during the 3rd quarter worth approximately $49,000. CWM LLC increased its position in shares of DoubleVerify by 212.5% in the 2nd quarter. CWM LLC now owns 2,794 shares of the company's stock valued at $54,000 after acquiring an additional 1,900 shares during the period. Fifth Third Bancorp increased its holdings in shares of DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company's stock valued at $81,000 after purchasing an additional 1,742 shares during the period. Finally, KBC Group NV raised its position in DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company's stock worth $85,000 after buying an additional 1,325 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other 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.