DoubleVerify (NYSE:DV) Now Covered by Analysts at Raymond James

Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $25.00 price target on the stock.

A number of other research analysts also recently commented on the stock. Macquarie reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Canaccord Genuity Group lowered their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley reduced their price target on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Truist Financial decreased their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, JMP Securities lowered their target price on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

DoubleVerify Stock Performance

NYSE DV traded up $0.04 during trading hours on Wednesday, reaching $19.89. The company’s stock had a trading volume of 101,735 shares, compared to its average volume of 2,285,593. The stock has a market cap of $3.36 billion, a PE ratio of 53.76, a PEG ratio of 3.29 and a beta of 0.97. The company’s 50-day moving average is $19.02 and its two-hundred day moving average is $18.90. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

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

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,656,439.40. The trade was 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 available through the SEC website. Insiders sold a total of 8,820 shares of company stock worth $155,444 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of DoubleVerify

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in DoubleVerify during the third quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify in the 3rd quarter worth approximately $49,000. CWM LLC raised its position in DoubleVerify by 212.5% in the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after buying an additional 1,325 shares in the last quarter. 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.