DoubleVerify (NYSE:DV) Price Target Lowered to $30.00 at Canaccord Genuity Group

DoubleVerify (NYSE:DV) had its price target lowered by Canaccord Genuity Group from $36.00 to $30.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also commented on the company. Piper Sandler reduced their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays lowered their price target on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Macquarie reduced their price objective on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Finally, Royal Bank of Canada lowered their target price on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Stock Down 1.9 %

Shares of DV stock traded down $0.38 on Thursday, hitting $19.34. The stock had a trading volume of 5,072,400 shares, compared to its average volume of 2,382,317. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The business has a 50 day moving average price of $17.54 and a 200 day moving average price of $19.59. The company has a market cap of $3.29 billion, a PE ratio of 56.33, a P/E/G ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last posted its quarterly 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. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $169.56 million during the quarter, compared to analyst estimates of $168.93 million. Equities research analysts expect that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify announced that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 7,056 shares of company stock worth $119,634. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

A number of large investors have recently made changes to their positions in DV. Whittier Trust Co. acquired a new position in shares of DoubleVerify during the first quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in DoubleVerify in the third quarter valued at $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 worth $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp raised its stake in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.