DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.00 Consensus PT from Analysts

DoubleVerify Holdings, Inc. (NYSE:DV) has received an average recommendation of “Moderate Buy” from the twenty-one research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.00.

DV has been the topic of a number of research reports. Morgan Stanley decreased their price target on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Scotiabank began coverage on DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a research report on Monday. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd.

DoubleVerify Stock Performance

Shares of DV stock opened at $20.59 on Friday. The firm has a market cap of $3.48 billion, a P/E ratio of 55.66, a P/E/G ratio of 2.34 and a beta of 0.98. The firm’s 50 day moving average price is $19.96 and its 200-day moving average price is $19.02. DoubleVerify has a one year low of $16.11 and a one year high of $43.00.

DoubleVerify announced that its board has approved a share buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,071 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. This represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in DoubleVerify during the 2nd quarter valued at approximately $53,015,000. Disciplined Growth Investors Inc. MN purchased a new stake in shares of DoubleVerify during the third quarter worth approximately $19,457,000. Dimensional Fund Advisors LP lifted its holdings in shares of DoubleVerify by 36.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after purchasing an additional 643,679 shares during the period. Repertoire Partners LP grew its position in DoubleVerify by 1,041.7% in the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after buying an additional 625,000 shares during the last quarter. Finally, Algert Global LLC increased its stake in DoubleVerify by 311.4% in the 3rd quarter. Algert Global LLC now owns 615,275 shares of the company’s stock valued at $10,361,000 after buying an additional 465,729 shares during the period. 97.29% of the stock is currently 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.