DoubleVerify (NYSE:DV) Given New $25.00 Price Target at JMP Securities

DoubleVerify (NYSE:DV) had its price target dropped by research analysts at JMP Securities from $33.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 24.07% from the stock’s current price.

DV has been the subject of several other research reports. Stifel Nicolaus dropped their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada cut their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. Canaccord Genuity Group lowered their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company initiated coverage on shares of DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and an average price target of $24.53.

DoubleVerify Price Performance

DV stock traded up $0.60 during trading on Thursday, hitting $20.15. The stock had a trading volume of 3,570,966 shares, compared to its average volume of 2,362,048. The company’s 50-day moving average price is $17.54 and its two-hundred day moving average price is $19.59. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00. The stock has a market capitalization of $3.43 billion, a P/E ratio of 57.03, a PEG ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. As a group, sell-side analysts expect that DoubleVerify will post 0.3 EPS for the current fiscal year.

DoubleVerify declared that its board has approved a stock buyback plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 7,056 shares of company stock worth $119,634. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after acquiring an additional 216,370 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of DoubleVerify by 9.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after purchasing an additional 360,445 shares in the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new stake in shares of DoubleVerify in the 2nd quarter valued at about $54,099,000. Finally, Mackenzie Financial Corp purchased a new position in DoubleVerify during the 2nd quarter worth approximately $53,015,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.