Canaccord Genuity Group Cuts DoubleVerify (NYSE:DV) Price Target to $30.00

DoubleVerify (NYSE:DV) had its price target decreased by investment analysts at Canaccord Genuity Group from $36.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 48.88% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Truist Financial reduced their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Barclays reduced their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. BMO Capital Markets lowered their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, JMP Securities reduced their target price on DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.53.

DoubleVerify Trading Up 3.1 %

Shares of DoubleVerify stock traded up $0.60 on Thursday, reaching $20.15. 3,570,966 shares of the stock were exchanged, compared to its average volume of 2,362,048. The firm has a market capitalization of $3.43 billion, a PE ratio of 57.03, a PEG ratio of 2.44 and a beta of 0.90. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The business has a fifty day moving average price of $17.54 and a two-hundred day moving average price of $19.59.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $169.56 million during the quarter, compared to the consensus estimate of $168.93 million. Research analysts expect that DoubleVerify will post 0.3 EPS for the current year.

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

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,339,023.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 7,056 shares of company stock worth $119,634 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its stake in DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after buying an additional 45,689 shares in the last quarter. Vanguard Group Inc. increased its stake in DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after acquiring an additional 216,370 shares during the period. Swiss National Bank lifted its stake in DoubleVerify by 15.4% during the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock worth $10,063,000 after purchasing an additional 38,200 shares during the period. Russell Investments Group Ltd. boosted its holdings in DoubleVerify by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after purchasing an additional 33,003 shares in the last quarter. Finally, NWI Management LP bought a new stake in shares of DoubleVerify in the 1st quarter valued at approximately $1,758,000. Institutional investors own 97.29% of the company’s stock.

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.