Barclays Cuts DoubleVerify (NYSE:DV) Price Target to $25.00

DoubleVerify (NYSE:DV) had its price objective cut by Barclays from $27.00 to $25.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on DV. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of DoubleVerify in a research report on Friday, January 10th. Stifel Nicolaus lowered their price objective on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Truist Financial decreased their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Scotiabank started coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.00.

DoubleVerify Trading Up 1.5 %

Shares of NYSE:DV opened at $20.03 on Thursday. The stock has a 50 day moving average of $19.87 and a 200 day moving average of $19.00. The company has a market cap of $3.39 billion, a PE ratio of 54.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00.

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

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in DoubleVerify by 36.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock valued at $47,154,000 after purchasing an additional 643,679 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in DoubleVerify by 15.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,453 shares of the company’s stock valued at $242,000 after buying an additional 1,684 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in DoubleVerify by 8.5% during the second quarter. Public Sector Pension Investment Board now owns 309,945 shares of the company’s stock worth $6,035,000 after buying an additional 24,233 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of DoubleVerify during the second quarter worth $155,000. Finally, AQR Capital Management LLC increased its position in shares of DoubleVerify by 1,079.0% in the second quarter. AQR Capital Management LLC now owns 142,835 shares of the company’s stock worth $2,711,000 after acquiring an additional 130,720 shares in the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.