DoubleVerify Holdings, Inc. (NYSE:DV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have earned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $24.00.

DV has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Barclays dropped their target price on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of DoubleVerify in a research report on Wednesday, December 11th. Raymond James began coverage on DoubleVerify in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, BMO Capital Markets cut their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors and hedge funds have recently modified their holdings of DV. Burgundy Asset Management Ltd. increased its holdings in DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after purchasing an additional 2,073,279 shares during the last quarter. Norges Bank acquired a new position in shares of DoubleVerify during the 4th quarter worth about $33,957,000. BNP Paribas Financial Markets bought a new stake in shares of DoubleVerify in the 4th quarter valued at about $31,579,000. Alta Fox Capital Management LLC bought a new stake in shares of DoubleVerify in the 4th quarter valued at about $24,267,000. Finally, Disciplined Growth Investors Inc. MN acquired a new stake in shares of DoubleVerify in the 3rd quarter valued at approximately $19,457,000. 97.29% of the stock is owned by institutional investors.

DoubleVerify Stock Performance

Shares of DV stock opened at $22.51 on Thursday. The firm has a fifty day moving average of $20.42 and a 200-day moving average of $19.19. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 60.82, a P/E/G ratio of 2.66 and a beta of 0.99. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00.

DoubleVerify announced that its board has approved a stock buyback plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.