DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.47 Average Target Price from Analysts

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.47.

A number of analysts have recently commented on DV shares. The Goldman Sachs Group reduced their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Truist Financial reduced their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th.

DoubleVerify Price Performance

DV stock opened at $20.05 on Tuesday. The firm has a 50-day moving average of $17.60 and a 200 day moving average of $19.23. The company has a market cap of $3.39 billion, a P/E ratio of 54.19, a PEG ratio of 2.43 and a beta of 0.90. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00.

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

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 7,056 shares of company stock worth $119,634. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently added to or reduced their stakes in the company. United Services Automobile Association boosted its position in shares of DoubleVerify by 7.4% in the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after purchasing an additional 746 shares in the last quarter. Arizona State Retirement System grew its stake in shares of DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after acquiring an additional 927 shares during the last quarter. Gagnon Securities LLC increased its holdings in shares of DoubleVerify by 1.2% during the first quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after acquiring an additional 1,045 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Covestor Ltd boosted its stake in 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. 97.29% of the stock is currently owned by 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.