JMP Securities Lowers DoubleVerify (NYSE:DV) Price Target to $25.00

DoubleVerify (NYSE:DV) had its price target lowered by equities researchers at JMP Securities from $33.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 29.33% from the company’s previous close.

A number of other brokerages have also weighed in on DV. Wells Fargo & Company began coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective on the stock. Macquarie cut their price objective on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Barclays decreased their price objective on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Canaccord Genuity Group dropped their target price on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report 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 stock. According to data from MarketBeat.com, the company presently 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. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The business’s fifty day simple moving average is $17.53 and its 200-day simple moving average is $19.52. The company has a market cap of $3.29 billion, a PE ratio of 55.26, a PEG ratio of 2.44 and a beta of 0.90.

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

DoubleVerify announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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 sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,056 shares of company stock valued at $119,634 in the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several large investors have recently added to or reduced their stakes in DV. Intech Investment Management LLC grew its holdings in shares of DoubleVerify by 127.9% in the third quarter. Intech Investment Management LLC now owns 165,509 shares of the company’s stock valued at $2,787,000 after purchasing an additional 92,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of DoubleVerify during the 3rd quarter worth approximately $2,128,000. Quest Partners LLC raised its position in shares of DoubleVerify by 209,440.0% during the 3rd quarter. Quest Partners LLC now owns 31,431 shares of the company’s stock valued at $529,000 after buying an additional 31,416 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in DoubleVerify in the third quarter valued at approximately $222,000. Finally, ING Groep NV purchased a new position in DoubleVerify in the third quarter worth approximately $7,378,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.