Morgan Stanley Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price objective decreased by Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler decreased their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays reduced their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. BMO Capital Markets reduced their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Truist Financial cut their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Trading Down 2.0 %

Shares of NYSE DV traded down $0.39 during mid-day trading on Thursday, hitting $19.33. The company had a trading volume of 5,072,400 shares, compared to its average volume of 2,382,317. The firm has a 50-day simple moving average of $17.54 and a two-hundred day simple moving average of $19.59. The company has a market capitalization of $3.29 billion, a PE ratio of 56.33, a price-to-earnings-growth ratio of 2.44 and a beta of 0.90. DoubleVerify has a one year low of $16.11 and a one year high of $43.00.

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

DoubleVerify announced that its board has authorized a stock repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in DoubleVerify during the 1st quarter worth about $309,000. Whittier Trust Co. bought a new stake in shares of DoubleVerify in the 1st quarter valued at $28,000. Texas Permanent School Fund Corp lifted 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 buying an additional 1,585 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in DoubleVerify by 47.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company’s stock worth $1,482,000 after buying an additional 13,579 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock valued at $4,163,000 after buying an additional 45,689 shares during the last quarter. Institutional investors 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.