Canaccord Genuity Group Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its target price lowered by Canaccord Genuity Group from $36.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 55.20% from the company’s previous close.

DV has been the topic of several other research reports. BMO Capital Markets dropped their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley increased their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. Macquarie dropped their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Stock Down 2.0 %

Shares of DV stock opened at $19.33 on Thursday. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00. The business has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $19.52. The company has a market cap of $3.29 billion, a P/E ratio of 55.26, a P/E/G ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The company had revenue of $169.56 million during the quarter, compared to the consensus estimate of $168.93 million. As a group, equities research analysts anticipate that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

DoubleVerify announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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 directly owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,056 shares of company stock valued at $119,634 in the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its holdings in DoubleVerify by 62.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after purchasing an additional 45,689 shares in the last quarter. Vanguard Group Inc. boosted its position in DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after acquiring an additional 216,370 shares in the last quarter. Swiss National Bank raised its position in shares of DoubleVerify by 15.4% in the 1st quarter. Swiss National Bank now owns 286,200 shares of the company’s stock worth $10,063,000 after acquiring an additional 38,200 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of DoubleVerify by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after purchasing an additional 33,003 shares during the period. Finally, NWI Management LP bought a new stake in shares of DoubleVerify during the first quarter valued at approximately $1,758,000. 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.