DoubleVerify (NYSE:DV) Price Target Raised to $27.00

DoubleVerify (NYSE:DV) had its target price increased by Barclays from $23.00 to $27.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reduced their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Macquarie restated an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Finally, Truist Financial reduced their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

DoubleVerify Stock Up 0.5 %

Shares of DoubleVerify stock opened at $20.67 on Friday. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 55.86, a PEG ratio of 3.34 and a beta of 0.97. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The firm’s 50-day moving average price is $18.48 and its two-hundred day moving average price is $18.81.

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

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total transaction of $28,947.24. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,820 shares of company stock valued at $155,444 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DV. Cetera Investment Advisers raised its stake in DoubleVerify by 91.1% during the 1st quarter. Cetera Investment Advisers now owns 126,152 shares of the company’s stock worth $4,436,000 after buying an additional 60,146 shares during the period. Harbor Capital Advisors Inc. increased its holdings in DoubleVerify by 119.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,944 shares of the company’s stock worth $174,000 after purchasing an additional 4,873 shares in the last quarter. CWM LLC increased its holdings in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares in the last quarter. SG Americas Securities LLC bought a new stake in DoubleVerify during the 2nd quarter worth approximately $558,000. Finally, Dnca Finance bought a new stake in DoubleVerify during the 2nd quarter worth approximately $6,016,000. 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.