DoubleVerify (NYSE:DV) Given New $24.00 Price Target at Barclays

DoubleVerify (NYSE:DV) had its price target lowered by Barclays from $25.00 to $24.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on DV. Royal Bank of Canada upped their target price on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a report on Monday, January 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of DoubleVerify in a report on Friday. Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.37.

DoubleVerify Trading Down 36.0 %

Shares of NYSE:DV opened at $13.90 on Friday. DoubleVerify has a 52 week low of $13.42 and a 52 week high of $35.57. The company’s 50 day moving average is $20.54 and its two-hundred day moving average is $19.29. The company has a market cap of $2.35 billion, a PE ratio of 37.57, a P/E/G ratio of 2.63 and a beta of 0.99.

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

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently made changes to their positions in DV. Wealth Enhancement Advisory Services LLC purchased a new position in shares of DoubleVerify in the 3rd quarter valued at about $472,000. Harvey Capital Management Inc. purchased a new position in shares of DoubleVerify in the 3rd quarter valued at about $462,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of DoubleVerify in the 3rd quarter valued at about $1,323,000. M&G PLC increased its holdings in shares of DoubleVerify by 3.0% in the 3rd quarter. M&G PLC now owns 501,171 shares of the company’s stock valued at $8,520,000 after purchasing an additional 14,392 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of DoubleVerify by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after purchasing an additional 94,095 shares in the last quarter. Hedge funds and other 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.