Brokerages Set DoubleVerify Holdings, Inc. (NYSE:DV) Price Target at $24.47

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.47.

A number of research firms have recently commented on DV. Piper Sandler dropped their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a report on Thursday, November 7th. Barclays reduced their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, The Goldman Sachs Group lowered their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th.

DoubleVerify Stock Up 0.4 %

DV stock opened at $19.21 on Tuesday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 51.92, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90. The stock’s fifty day simple moving average is $17.65 and its 200-day simple moving average is $18.93. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00.

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

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,380,638.16. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in shares of DoubleVerify during the second quarter valued at approximately $73,268,000. Burgundy Asset Management Ltd. bought a new stake in DoubleVerify during the 2nd quarter valued at $54,099,000. Mackenzie Financial Corp acquired a new position in DoubleVerify during the 2nd quarter worth $53,015,000. Jericho Capital Asset Management L.P. bought a new position in shares of DoubleVerify in the first quarter worth $53,584,000. Finally, Disciplined Growth Investors Inc. MN bought a new position in shares of DoubleVerify in the third quarter worth $19,457,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.