DoubleVerify (NYSE:DV) Trading Up 4% – Should You Buy?

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price was up 4% during mid-day trading on Monday . The company traded as high as $21.51 and last traded at $21.44. Approximately 522,029 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,427,801 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DV. JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of DoubleVerify in a research report on Monday, January 27th. Raymond James began coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price objective on the stock. Piper Sandler reduced their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Trading Up 4.2 %

The company has a market cap of $3.63 billion, a PE ratio of 58.04, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The business has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $19.01.

DoubleVerify declared that its Board of Directors has authorized a stock repurchase program on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’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 transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,656,439.40. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in DoubleVerify by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after buying an additional 526 shares during the last quarter. GAMMA Investing LLC increased its holdings in DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares during the last quarter. The Manufacturers Life Insurance Company increased 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 valued at $663,000 after buying an additional 1,218 shares during the last quarter. Covestor Ltd increased its holdings in DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in DoubleVerify by 0.3% in the third quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock valued at $6,185,000 after buying an additional 1,279 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.