DoubleVerify (NYSE:DV) Price Target Lowered to $26.00 at Canaccord Genuity Group

DoubleVerify (NYSE:DV) had its target price decreased by Canaccord Genuity Group from $30.00 to $26.00 in a research report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Scotiabank began coverage on DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. Truist Financial reduced their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.37.

DoubleVerify Price Performance

DoubleVerify stock opened at $13.90 on Friday. The stock’s fifty day moving average price is $20.54 and its two-hundred day moving average price is $19.29. DoubleVerify has a one year low of $13.42 and a one year high of $35.57. The firm has a market cap of $2.35 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its Board of Directors has approved a stock buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total transaction of $42,476.21. Following the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after buying an additional 981 shares during the period. True Wealth Design LLC bought a new position in shares of DoubleVerify in the 3rd quarter worth about $29,000. Quadrant Capital Group LLC raised its position in shares of DoubleVerify by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares in the last quarter. GAMMA Investing LLC raised its position in shares of DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares in the last quarter. Finally, Allianz SE bought a new position in shares of DoubleVerify in the 4th quarter worth about $41,000. 97.29% of the stock is 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.