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

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $25.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 19.50% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company started coverage on DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Barclays decreased their price objective on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial decreased their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Scotiabank began coverage on DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Stock Performance

DV traded up $0.90 during trading hours on Monday, reaching $20.92. The company’s stock had a trading volume of 147,917 shares, compared to its average volume of 1,505,882. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The company’s 50-day moving average is $19.87 and its 200-day moving average is $19.00. The firm has a market cap of $3.54 billion, a PE ratio of 56.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

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

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $20.30, for a total transaction of $35,809.20. Following the transaction, 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 link. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

A number of hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in DoubleVerify during the third quarter valued at $794,000. GSA Capital Partners LLP raised its position in shares of DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock valued at $1,218,000 after purchasing an additional 53,326 shares during the period. Repertoire Partners LP boosted its holdings in DoubleVerify by 1,041.7% in the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after buying an additional 625,000 shares during the period. Townsend Asset Management Corp NC ADV boosted its holdings in DoubleVerify by 259.8% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after buying an additional 79,145 shares during the period. Finally, Geode Capital Management LLC grew its stake in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after buying an additional 10,696 shares in the last quarter. 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.