Morgan Stanley Cuts DoubleVerify (NYSE:DV) Price Target to $19.00

DoubleVerify (NYSE:DV) had its price target reduced by Morgan Stanley from $21.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on DV. Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Barclays boosted their price objective on DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Scotiabank began coverage on DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.11.

DoubleVerify Stock Up 1.7 %

NYSE DV opened at $19.55 on Monday. The stock’s 50-day moving average price is $19.90 and its 200-day moving average price is $19.01. The company has a market capitalization of $3.31 billion, a P/E ratio of 52.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.98. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify declared that its board has approved a stock buyback program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,656,439.40. The trade was a 2.12 % 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. Insiders have sold 5,599 shares of company stock valued at $107,233 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On DoubleVerify

Several institutional investors have recently made changes to their positions in DV. Burgundy Asset Management Ltd. purchased a new stake in DoubleVerify in the 2nd quarter worth about $54,099,000. Mackenzie Financial Corp bought a new position in shares of DoubleVerify during the second quarter valued at approximately $53,015,000. Disciplined Growth Investors Inc. MN purchased a new stake in shares of DoubleVerify in the third quarter worth approximately $19,457,000. Dimensional Fund Advisors LP lifted its stake in shares of DoubleVerify by 36.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after acquiring an additional 643,679 shares during the last quarter. Finally, Repertoire Partners LP boosted its holdings in DoubleVerify by 1,041.7% during the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after acquiring an additional 625,000 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Company Profile

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.