DoubleVerify (NYSE:DV) Price Target Cut to $23.00 by Analysts at Truist Financial

DoubleVerify (NYSE:DV) had its price objective decreased by Truist Financial from $26.00 to $23.00 in a research note released on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on DV. Stifel Nicolaus reduced their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a report on Tuesday, September 17th. Piper Sandler reduced their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets reduced their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Macquarie reduced their target price on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Stock Down 2.0 %

DoubleVerify stock opened at $19.33 on Thursday. The business’s 50-day simple moving average is $17.53 and its 200 day simple moving average is $19.44. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 2.73 and a beta of 0.90. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total transaction of $28,947.24. Following the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,339,023.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,056 shares of company stock valued at $119,634 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of DoubleVerify by 9.6% during the 3rd 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 during the last quarter. Van Berkom & Associates Inc. increased its position in shares of DoubleVerify by 25.9% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new position in shares of DoubleVerify during the 2nd quarter worth approximately $54,099,000. Finally, Mackenzie Financial Corp bought a new position in shares of DoubleVerify during the 2nd quarter worth approximately $53,015,000. 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.