DoubleVerify (NYSE:DV) Shares Up 4% – What’s Next?

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price traded up 4% on Monday . The stock traded as high as $21.51 and last traded at $21.44. 522,029 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,427,801 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DV shares. Raymond James began coverage on shares of DoubleVerify in a report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a research note on Monday, January 27th. Finally, Piper Sandler cut their target price 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Trading Up 1.7 %

The firm has a market cap of $3.73 billion, a P/E ratio of 59.56, a PEG ratio of 2.43 and a beta of 0.99. The business has a 50 day moving average of $20.01 and a two-hundred day moving average of $19.04.

DoubleVerify announced that its board has authorized a stock repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 2,071 shares of the business’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 transaction of $42,476.21. Following the completion of the sale, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 6,055 shares of company stock valued at $126,260. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DV. AQR Capital Management LLC increased its stake in DoubleVerify by 1,079.0% in the 2nd quarter. AQR Capital Management LLC now owns 142,835 shares of the company’s stock worth $2,711,000 after acquiring an additional 130,720 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in DoubleVerify by 3.7% during 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. B. Riley Wealth Advisors Inc. purchased a new stake in DoubleVerify during the 2nd quarter valued at about $230,000. Cetera Investment Advisers lifted its holdings in DoubleVerify by 17.6% in the 2nd quarter. Cetera Investment Advisers now owns 148,396 shares of the company’s stock worth $2,889,000 after buying an additional 22,244 shares during the period. Finally, CWM LLC lifted its holdings in DoubleVerify by 714.5% in the 3rd quarter. CWM LLC now owns 22,758 shares of the company’s stock worth $383,000 after buying an additional 19,964 shares during the period. Hedge funds and other 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.