DoubleVerify’s (DV) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of DoubleVerify (NYSE:DV) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $25.00 target price on the stock.

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets lowered their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Macquarie restated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Finally, Truist Financial cut their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two investment 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. Based on data from MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Stock Down 0.5 %

DoubleVerify stock opened at $20.57 on Monday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 2.34 and a beta of 0.98. The business has a 50-day simple moving average of $19.95 and a 200 day simple moving average of $19.01. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify announced that its board has approved a stock buyback program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction on 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 directly owns 81,598 shares of the company’s stock, valued at $1,656,439.40. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of DoubleVerify

A number of hedge funds and other institutional investors have recently modified their holdings of DV. Dimensional Fund Advisors LP grew its holdings in DoubleVerify by 36.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after purchasing an additional 643,679 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of DoubleVerify by 15.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,453 shares of the company’s stock worth $242,000 after buying an additional 1,684 shares during the last quarter. AQR Capital Management LLC raised its stake in DoubleVerify by 1,079.0% during the second quarter. AQR Capital Management LLC now owns 142,835 shares of the company’s stock valued at $2,711,000 after buying an additional 130,720 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in DoubleVerify by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after acquiring an additional 1,218 shares in the last quarter. Finally, Scientech Research LLC bought a new stake in DoubleVerify in the second quarter worth $295,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.