Truist Financial Lowers DoubleVerify (NYSE:DV) Price Target to $23.00

DoubleVerify (NYSE:DV) had its target price decreased by Truist Financial from $26.00 to $23.00 in a report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts also recently commented on DV. Wells Fargo & Company initiated coverage on DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a report on Tuesday, September 17th. Piper Sandler dropped their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus dropped their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Price Performance

NYSE:DV traded down $0.41 during mid-day trading on Thursday, reaching $19.31. The company’s stock had a trading volume of 2,205,002 shares, compared to its average volume of 2,369,103. The company’s fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $19.59. The stock has a market cap of $3.28 billion, a P/E ratio of 56.33, a P/E/G ratio of 2.44 and a beta of 0.90. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $169.56 million for the quarter, compared to the consensus estimate of $168.93 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. Sell-side analysts expect that DoubleVerify will post 0.3 EPS for the current fiscal year.

DoubleVerify declared that its board 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 reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,380,638.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 7,056 shares of company stock worth $119,634 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of DoubleVerify

Several hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association raised its stake in shares of DoubleVerify by 7.4% in the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after buying an additional 746 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of DoubleVerify in the 1st quarter worth $28,000. Arizona State Retirement System raised its stake in shares of DoubleVerify by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after buying an additional 927 shares in the last quarter. Gagnon Securities LLC raised its stake in shares of DoubleVerify by 1.2% in the 1st quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock worth $3,024,000 after buying an additional 1,045 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after buying an additional 1,218 shares in 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.