DoubleVerify (NYSE:DV) Upgraded by Bank of America to Neutral Rating

DoubleVerify (NYSE:DV) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat.com reports.

Several other brokerages also recently weighed in on DV. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a research report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of DoubleVerify in a research report on Monday, January 27th. Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. The Goldman Sachs Group restated a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of DoubleVerify in a research report on Friday. Finally, Truist Financial reduced their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.37.

DoubleVerify Stock Down 36.0 %

NYSE DV opened at $13.90 on Friday. DoubleVerify has a 52 week low of $13.42 and a 52 week high of $35.57. The stock has a market capitalization of $2.35 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99. The firm has a 50 day moving average of $20.54 and a two-hundred day moving average of $19.30.

DoubleVerify declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in DoubleVerify during the 3rd quarter worth approximately $794,000. GSA Capital Partners LLP boosted its stake in shares of DoubleVerify by 280.9% during the 3rd quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after acquiring an additional 53,326 shares in the last quarter. Repertoire Partners LP boosted its stake in shares of DoubleVerify by 1,041.7% during the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after acquiring an additional 625,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of DoubleVerify by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after acquiring an additional 10,696 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its stake in shares of DoubleVerify by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after acquiring an additional 69,780 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.