Barclays Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price objective lowered by analysts at Barclays from $25.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 72.66% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of DoubleVerify in a research note on Wednesday, December 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of DoubleVerify in a research note on Friday. Scotiabank assumed coverage on DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus set a $20.00 price target on DoubleVerify in a research note on Friday. Finally, Truist Financial dropped their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $23.37.

DoubleVerify Stock Performance

Shares of DoubleVerify stock opened at $13.90 on Friday. The company has a 50-day simple moving average of $20.54 and a two-hundred day simple moving average of $19.30. 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.

DoubleVerify announced that its board has approved a share buyback plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently made changes to their positions in DV. Wealth Enhancement Advisory Services LLC bought a new stake in shares of DoubleVerify in the third quarter worth about $472,000. Harvey Capital Management Inc. bought a new stake in shares of DoubleVerify in the third quarter worth about $462,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of DoubleVerify in the third quarter worth about $1,323,000. M&G PLC increased its holdings in shares of DoubleVerify by 3.0% in the third quarter. M&G PLC now owns 501,171 shares of the company’s stock worth $8,520,000 after purchasing an additional 14,392 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of DoubleVerify by 4.8% in the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock worth $34,264,000 after purchasing an additional 94,095 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.