Analysts Set DoubleVerify Holdings, Inc. (NYSE:DV) PT at $24.11

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.21.

DV has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Truist Financial dropped their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus decreased their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Macquarie reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Finally, Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $19.61 on Wednesday. The stock has a market capitalization of $3.32 billion, a PE ratio of 53.00, a P/E/G ratio of 3.29 and a beta of 0.97. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The company’s fifty day simple moving average is $19.61 and its 200-day simple moving average is $19.00.

DoubleVerify announced that its board has initiated a stock buyback program on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,339,023.18. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 5,599 shares of company stock worth $107,233. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new position in DoubleVerify during the 3rd quarter worth $29,000. GAMMA Investing LLC increased its stake in shares of DoubleVerify by 73.6% during 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 period. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify in the third quarter valued at about $49,000. KBC Group NV lifted its stake in DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after acquiring an additional 1,325 shares during the period. Finally, Covestor Ltd grew its holdings in DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares in the last quarter. Hedge funds and other institutional investors 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.