Bank of America Upgrades DoubleVerify (NYSE:DV) to Neutral

DoubleVerify (NYSE:DV) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of DoubleVerify in a research report on Friday. Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Morgan Stanley lowered their price objective on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

DoubleVerify Trading Down 35.8 %

Shares of DoubleVerify stock traded down $7.79 during trading on Friday, hitting $13.94. 7,138,074 shares of the stock were exchanged, compared to its average volume of 1,577,126. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99. The company has a fifty day moving average price of $20.66 and a 200-day moving average price of $19.32. DoubleVerify has a 1-year low of $13.82 and a 1-year high of $35.57.

DoubleVerify declared that its board has authorized a stock repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds have recently made changes to their positions in the business. True Wealth Design LLC purchased a new position in shares of DoubleVerify in the third quarter worth $29,000. Smartleaf Asset Management LLC increased its stake in shares of DoubleVerify by 168.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after buying an additional 981 shares during the period. GAMMA Investing LLC increased its stake in shares of DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after buying an additional 863 shares during the period. Quadrant Capital Group LLC increased its stake in shares of DoubleVerify by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after buying an additional 1,285 shares during the period. Finally, Allianz SE purchased a new position in shares of DoubleVerify in the fourth quarter worth $41,000. 97.29% of the stock is currently 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.