DoubleVerify (NYSE:DV) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of DoubleVerify (NYSE:DV) in a research report released on Friday morning,Benzinga reports. JMP Securities currently has a $25.00 price target on the stock.

Several other research firms have also weighed in on DV. Royal Bank of Canada raised their price objective on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Truist Financial decreased their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays upped their price objective on shares of DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. The Goldman Sachs Group dropped their target price on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company started coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.21.

DoubleVerify Price Performance

DV stock opened at $19.32 on Friday. The firm has a market cap of $3.27 billion, a PE ratio of 52.22, a P/E/G ratio of 3.18 and a beta of 0.97. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The firm has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $19.01.

DoubleVerify announced that its board has initiated a stock repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,656,439.40. The trade was a 2.12 % 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. Over the last three months, insiders sold 5,599 shares of company stock worth $107,233. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in DoubleVerify during the third quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after purchasing an additional 863 shares during the period. Capital Performance Advisors LLP acquired a new stake in DoubleVerify in the 3rd quarter valued at approximately $49,000. KBC Group NV increased its position in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.