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

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have assigned 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.

A number of analysts recently issued reports on DV shares. Barclays lowered their target price on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of DoubleVerify in a research report on Wednesday, December 11th. The Goldman Sachs Group cut their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company started coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $20.03 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 54.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The stock’s 50-day moving average is $19.87 and its 200-day moving average is $19.00. DoubleVerify has a one year low of $16.11 and a one year high of $43.00.

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

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several large investors have recently bought and sold shares of DV. Laurus Investment Counsel Inc. boosted its stake in shares of DoubleVerify by 39.0% in the 4th quarter. Laurus Investment Counsel Inc. now owns 859,580 shares of the company’s stock worth $16,513,000 after buying an additional 241,295 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in DoubleVerify by 5,838.6% during the fourth quarter. Pacer Advisors Inc. now owns 189,025 shares of the company’s stock worth $3,631,000 after acquiring an additional 185,842 shares during the period. KBC Group NV boosted its position in DoubleVerify by 29.7% in the fourth quarter. KBC Group NV now owns 6,516 shares of the company’s stock worth $125,000 after purchasing an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in DoubleVerify in the 4th quarter valued at $475,000. Finally, SG Americas Securities LLC purchased a new stake in shares of DoubleVerify during the 4th quarter valued at $113,000. 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.