DoubleVerify (NYSE:DV) Price Target Lowered to $23.00 at Truist Financial

DoubleVerify (NYSE:DV) had its price objective cut by Truist Financial from $26.00 to $23.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on DV. Stifel Nicolaus decreased their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Piper Sandler decreased their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Barclays decreased their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Finally, Macquarie decreased their target price on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Stock Performance

Shares of DV traded down $0.41 during trading hours on Thursday, hitting $19.31. 2,205,002 shares of the stock were exchanged, compared to its average volume of 2,369,103. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 56.33, a price-to-earnings-growth ratio of 2.44 and a beta of 0.90. The stock’s 50-day moving average price is $17.54 and its two-hundred day moving average price is $19.59.

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

DoubleVerify announced that its board has authorized a share repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally 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 that occurred on Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is owned by company insiders.

Institutional Trading of DoubleVerify

Several large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in DoubleVerify in the first quarter valued at $309,000. Whittier Trust Co. acquired a new stake in DoubleVerify in the first quarter valued at $28,000. Texas Permanent School Fund Corp grew its holdings in DoubleVerify by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 121,991 shares of the company’s stock valued at $4,289,000 after purchasing an additional 1,585 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in DoubleVerify by 47.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company’s stock valued at $1,482,000 after purchasing an additional 13,579 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in DoubleVerify by 62.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock valued at $4,163,000 after purchasing an additional 45,689 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.