JPMorgan Chase & Co. Cuts DoubleVerify (NYSE:DV) Price Target to $19.00

DoubleVerify (NYSE:DV) had its price target reduced by JPMorgan Chase & Co. from $21.00 to $19.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the company. Macquarie cut their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Morgan Stanley boosted their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Canaccord Genuity Group cut their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Trading Down 2.0 %

Shares of DV stock opened at $19.33 on Thursday. The stock has a 50 day moving average of $17.53 and a 200 day moving average of $19.44. The stock has a market cap of $3.29 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.73 and a beta of 0.90. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00.

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

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,380,638.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 7,056 shares of company stock worth $119,634. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors have recently made changes to their positions in the company. United Services Automobile Association lifted its stake in shares of DoubleVerify by 7.4% in the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after purchasing an additional 746 shares during the last quarter. Whittier Trust Co. purchased a new stake in DoubleVerify in the 1st quarter valued at about $28,000. 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 worth $793,000 after buying an additional 927 shares during the period. Gagnon Securities LLC increased its position in shares of DoubleVerify by 1.2% during the first quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after acquiring an additional 1,045 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after acquiring an additional 1,218 shares during the period. Hedge funds and other 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.