DoubleVerify (NYSE:DV) Given “Market Outperform” Rating at JMP Securities

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research report issued on Friday,Benzinga reports. They currently have a $25.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 28.40% from the company’s current price.

A number of other analysts have also issued reports on DV. BMO Capital Markets dropped their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Morgan Stanley cut their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Piper Sandler lowered their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group lowered their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $24.21.

DoubleVerify Trading Down 2.5 %

Shares of DV traded down $0.49 during midday trading on Friday, reaching $19.47. 121,984 shares of the company were exchanged, compared to its average volume of 1,699,279. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The stock has a 50-day moving average price of $19.81 and a 200-day moving average price of $19.01. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 3.29 and a beta of 0.98.

DoubleVerify declared that its Board of Directors has initiated a stock repurchase plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the sale, the chief financial officer now directly owns 85,882 shares in the company, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 5,599 shares of company stock worth $107,233. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc lifted its position in DoubleVerify by 10.8% in the second quarter. TD Asset Management Inc now owns 131,020 shares of the company’s stock worth $2,551,000 after purchasing an additional 12,800 shares during the period. Arizona State Retirement System boosted its stake in DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock valued at $793,000 after buying an additional 927 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in DoubleVerify by 22.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 97,681 shares of the company’s stock worth $1,902,000 after acquiring an additional 17,967 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in DoubleVerify by 40.3% in the 2nd quarter. Y.D. More Investments Ltd now owns 15,676 shares of the company’s stock valued at $305,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Johnson Investment Counsel Inc. bought a new position in shares of DoubleVerify during the 2nd quarter valued at about $1,342,000. 97.29% of the stock is currently 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.