DoubleVerify’s (DV) “Neutral” Rating Reaffirmed at Robert W. Baird

DoubleVerify (NYSE:DV)‘s stock had its “neutral” rating reaffirmed by investment analysts at Robert W. Baird in a research note issued on Friday,Benzinga reports. They presently have a $14.00 price objective on the stock, down from their prior price objective of $20.00. Robert W. Baird’s target price would suggest a potential upside of 0.46% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Loop Capital downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating and cut their price objective for the stock from $24.00 to $16.00 in a research report on Tuesday, March 4th. Barclays reduced their price target on DoubleVerify from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus set a $20.00 price objective on DoubleVerify in a research report on Friday, February 28th. Royal Bank of Canada boosted their target price 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. Finally, Bank of America upgraded shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoubleVerify has a consensus rating of “Hold” and an average target price of $22.00.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $13.94 on Friday. The business has a fifty day simple moving average of $18.65 and a two-hundred day simple moving average of $18.67. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.63 and a beta of 1.06. DoubleVerify has a 1 year low of $13.42 and a 1 year high of $35.57.

Insiders Place Their Bets

In related 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 owns 85,882 shares in the company, valued at $1,855,910.02. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors and hedge funds have recently added to or reduced their stakes in DV. Wellington Management Group LLP increased its holdings in DoubleVerify by 13.4% in the fourth quarter. Wellington Management Group LLP now owns 415,337 shares of the company’s stock valued at $7,979,000 after purchasing an additional 49,078 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in DoubleVerify by 106.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 57,772 shares of the company’s stock worth $1,110,000 after buying an additional 29,745 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in DoubleVerify in the fourth quarter valued at $6,422,000. Mackenzie Financial Corp boosted its position in DoubleVerify by 20.1% during the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after acquiring an additional 948,529 shares during the last quarter. Finally, Neo Ivy Capital Management grew its holdings in DoubleVerify by 271.0% during the 4th quarter. Neo Ivy Capital Management now owns 174,897 shares of the company’s stock worth $3,359,000 after acquiring an additional 127,751 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.