DoubleVerify (NYSE:DV) Price Target Lowered to $15.50 at The Goldman Sachs Group

DoubleVerify (NYSE:DV) had its target price lowered by equities researchers at The Goldman Sachs Group from $20.00 to $15.50 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 29.92% from the company’s current price.

Several other analysts also recently commented on DV. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Tuesday, April 1st. Loop Capital cut DoubleVerify from a “buy” rating to a “hold” rating and dropped their price objective for the company from $24.00 to $16.00 in a research note on Tuesday, March 4th. Royal Bank of Canada upped their target price on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Bank of America raised shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $14.00 price objective (down previously from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify presently has a consensus rating of “Hold” and an average target price of $21.78.

DoubleVerify Price Performance

Shares of NYSE:DV traded down $0.64 during trading on Monday, reaching $11.93. 1,172,384 shares of the stock were exchanged, compared to its average volume of 2,421,879. The stock has a fifty day moving average of $16.69 and a two-hundred day moving average of $18.26. DoubleVerify has a 1-year low of $11.52 and a 1-year high of $32.44. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoubleVerify

Several hedge funds have recently bought and sold shares of the company. Burgundy Asset Management Ltd. boosted its holdings in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after purchasing an additional 2,073,279 shares during the period. Norges Bank purchased a new stake in shares of DoubleVerify in the fourth quarter worth $33,957,000. BNP Paribas Financial Markets bought a new stake in DoubleVerify during the fourth quarter valued at $31,579,000. Alta Fox Capital Management LLC purchased a new position in DoubleVerify during the fourth quarter worth about $24,267,000. Finally, Mackenzie Financial Corp increased its stake in DoubleVerify by 20.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock worth $108,753,000 after acquiring an additional 948,529 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.