DoubleVerify (NYSE:DV) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $25.00 target price on the stock.

A number of other research firms also recently commented on DV. Canaccord Genuity Group dropped their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. Barclays upped their price objective on shares of DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Piper Sandler lowered their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

DoubleVerify Trading Up 0.2 %

Shares of DV traded up $0.04 on Wednesday, reaching $19.89. 101,735 shares of the company’s stock were exchanged, compared to its average volume of 2,285,593. The business has a 50 day moving average price of $19.02 and a two-hundred day moving average price of $18.90. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The stock has a market capitalization of $3.36 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

DoubleVerify declared that its board has initiated a share buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,656,439.40. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of DoubleVerify in the 3rd quarter worth about $29,000. CWM LLC grew its stake in 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 period. Capital Performance Advisors LLP bought a new stake in DoubleVerify in the third quarter worth approximately $49,000. Fifth Third Bancorp lifted its stake in DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares during the period. Finally, KBC Group NV boosted its holdings in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds 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.