DoubleVerify’s (DV) Market Outperform Rating Reaffirmed at JMP Securities

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock. JMP Securities’ price objective would suggest a potential upside of 19.50% from the company’s previous close.

DV has been the subject of a number of other research reports. Truist Financial dropped their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Piper Sandler cut their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Raymond James assumed coverage on shares of DoubleVerify in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 target price on the stock. Royal Bank of Canada upped their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Scotiabank started coverage on DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Trading Up 4.5 %

Shares of NYSE:DV traded up $0.90 during trading on Monday, reaching $20.92. The company had a trading volume of 147,917 shares, compared to its average volume of 1,505,882. The stock has a market capitalization of $3.54 billion, a P/E ratio of 56.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The company has a fifty day moving average of $19.87 and a two-hundred day moving average of $19.00.

DoubleVerify declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing 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

A number of hedge funds have recently made changes to their positions in DV. Assenagon Asset Management S.A. boosted its stake in DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after purchasing an additional 360,445 shares during the period. Geneva Capital Management LLC lifted its holdings in shares of DoubleVerify by 2.8% in the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after buying an additional 69,780 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DoubleVerify by 36.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after acquiring an additional 643,679 shares during the last quarter. Geode Capital Management LLC grew its stake in DoubleVerify by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after acquiring an additional 10,696 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in DoubleVerify by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after acquiring an additional 94,095 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

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.