DoubleVerify’s (DV) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of DoubleVerify (NYSE:DV) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $22.00 price target on the stock.

DV has been the subject of several other reports. Canaccord Genuity Group reduced their target price on DoubleVerify from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of DoubleVerify in a research note on Friday, February 28th. Stifel Nicolaus set a $20.00 target price on DoubleVerify in a research note on Friday, February 28th. Scotiabank assumed coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Finally, Baird R W downgraded shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

DoubleVerify Stock Performance

Shares of DV stock opened at $13.54 on Tuesday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.63 and a beta of 1.06. DoubleVerify has a 52-week low of $12.81 and a 52-week high of $34.39. The company has a 50-day simple moving average of $18.28 and a two-hundred day simple moving average of $18.60.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of DoubleVerify by 13.4% in the 4th quarter. Wellington Management Group LLP now owns 415,337 shares of the company’s stock valued at $7,979,000 after acquiring an additional 49,078 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of DoubleVerify by 106.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 57,772 shares of the company’s stock worth $1,110,000 after purchasing an additional 29,745 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in DoubleVerify in the fourth quarter valued at approximately $6,422,000. Mackenzie Financial Corp lifted its position in DoubleVerify by 20.1% during the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after purchasing an additional 948,529 shares during the last quarter. Finally, Neo Ivy Capital Management grew its stake in DoubleVerify by 271.0% in the 4th quarter. Neo Ivy Capital Management now owns 174,897 shares of the company’s stock worth $3,359,000 after buying an additional 127,751 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

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.