Barclays Lowers DoubleVerify (NYSE:DV) Price Target to $24.00

DoubleVerify (NYSE:DV) had its target price decreased by Barclays from $25.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on DV. Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday. Bank of America upgraded shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a report on Friday. Stifel Nicolaus set a $20.00 price target on shares of DoubleVerify in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of DoubleVerify in a report on Wednesday, December 11th. Finally, Scotiabank initiated coverage on shares of DoubleVerify in a report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.37.

DoubleVerify Trading Down 36.0 %

NYSE:DV opened at $13.90 on Friday. The firm has a 50-day moving average price of $20.54 and a two-hundred day moving average price of $19.29. DoubleVerify has a twelve month low of $13.42 and a twelve month high of $35.57. The company has a market capitalization of $2.35 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99.

DoubleVerify announced that its board has initiated a stock buyback program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in DoubleVerify by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after buying an additional 526 shares in the last quarter. Federated Hermes Inc. lifted its position in DoubleVerify by 6.3% during the fourth quarter. Federated Hermes Inc. now owns 9,571 shares of the company’s stock valued at $184,000 after buying an additional 571 shares in the last quarter. GAMMA Investing LLC lifted its position in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in DoubleVerify by 168.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock valued at $30,000 after buying an additional 981 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its position in DoubleVerify by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 368,578 shares of the company’s stock valued at $7,080,000 after buying an additional 1,153 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.