JMP Securities Reiterates Market Outperform Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports. They currently have a $25.00 price objective on the stock. JMP Securities’ target price would suggest a potential upside of 29.40% from the stock’s current price.

DV has been the subject of several other reports. Wells Fargo & Company initiated coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Royal Bank of Canada lifted their price objective on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Raymond James initiated coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group lowered their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Scotiabank assumed coverage on DoubleVerify in a report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $24.21.

DoubleVerify Price Performance

NYSE:DV opened at $19.32 on Friday. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The firm’s 50 day simple moving average is $19.85 and its 200 day simple moving average is $19.01. The company has a market cap of $3.27 billion, a PE ratio of 52.22, a P/E/G ratio of 3.18 and a beta of 0.97.

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

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,656,439.40. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 5,599 shares of company stock valued at $107,233. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoubleVerify by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock worth $549,000 after buying an additional 526 shares during the last quarter. GAMMA Investing LLC increased its stake in DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the last quarter. Arizona State Retirement System raised its position in DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock valued at $793,000 after purchasing an additional 927 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in DoubleVerify by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares in the last quarter. Hedge funds and other 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.