Morgan Stanley Cuts DoubleVerify (NYSE:DV) Price Target to $21.00

DoubleVerify (NYSE:DV) had its price objective reduced by Morgan Stanley from $23.00 to $21.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DV has been the subject of a number of other reports. Stifel Nicolaus dropped their price objective on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 target price for the company. 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. Barclays lowered 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. Finally, Truist Financial lowered their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Trading Down 2.0 %

Shares of NYSE DV opened at $19.33 on Thursday. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00. The stock has a fifty day simple moving average of $17.53 and a 200-day simple moving average of $19.44. The stock has a market capitalization of $3.29 billion, a PE ratio of 52.24, a PEG ratio of 2.73 and a beta of 0.90.

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

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 7,056 shares of company stock valued at $119,634. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several institutional investors and hedge funds have recently made changes to their positions in DV. Whittier Trust Co. purchased a new stake in shares of DoubleVerify in the 1st quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in shares of DoubleVerify in the 3rd quarter valued at approximately $49,000. CWM LLC raised its stake in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares during the period. Finally, KBC Group NV grew its position in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after buying an additional 1,325 shares during the last quarter. 97.29% of the stock is 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.