JPMorgan Chase & Co. Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price target decreased by analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 5.71% from the stock’s current price.

DV has been the topic of a number of other research reports. Truist Financial dropped their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. BMO Capital Markets lowered their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a report on Tuesday, September 17th. Barclays reduced their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Wells Fargo & Company started coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.53.

DoubleVerify Stock Performance

Shares of DV stock traded up $0.60 during mid-day trading on Thursday, hitting $20.15. 3,570,966 shares of the stock were exchanged, compared to its average volume of 2,362,048. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 57.03, a P/E/G ratio of 2.44 and a beta of 0.90. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The stock’s fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $19.59.

DoubleVerify (NYSE:DV) last announced its earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $169.56 million for the quarter, compared to analysts’ expectations of $168.93 million. On average, research analysts expect that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

DoubleVerify declared that its Board of Directors has approved a share buyback plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 7,056 shares of company stock worth $119,634. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DV. United Services Automobile Association increased its position 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 purchasing an additional 746 shares during the last quarter. Whittier Trust Co. acquired a new stake in DoubleVerify during the first quarter valued at approximately $28,000. Arizona State Retirement System lifted its holdings in DoubleVerify by 2.3% during 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 during the last quarter. Gagnon Securities LLC lifted its holdings in DoubleVerify by 1.2% during 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position 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 acquiring an additional 1,218 shares in the last quarter. Hedge funds and other 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.