DoubleVerify (NYSE:DV) Coverage Initiated at Raymond James

Equities research analysts at Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ price target indicates a potential upside of 25.34% from the stock’s current price.

DV has been the subject of several other reports. Canaccord Genuity Group decreased their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Piper Sandler lowered their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company started coverage on DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Finally, Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Two 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. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

DoubleVerify Price Performance

Shares of DV opened at $19.95 on Wednesday. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The business’s fifty day moving average price is $18.95 and its 200 day moving average price is $18.89. The stock has a market capitalization of $3.37 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 8,820 shares of company stock worth $155,444. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management acquired a new stake in DoubleVerify in the third quarter worth about $794,000. Ashford Capital Management Inc. lifted its stake in DoubleVerify by 14.2% in the third quarter. Ashford Capital Management Inc. now owns 740,880 shares of the company’s stock valued at $12,476,000 after buying an additional 92,020 shares in the last quarter. Geode Capital Management LLC boosted its stake in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after purchasing an additional 10,696 shares during the period. Disciplined Growth Investors Inc. MN acquired a new position in shares of DoubleVerify during the third quarter worth about $19,457,000. Finally, M&T Bank Corp acquired a new position in DoubleVerify during the 3rd quarter worth approximately $384,000. Institutional investors own 97.29% of the company’s stock.

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.