DoubleVerify (NYSE:DV) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

DoubleVerify (NYSE:DV) had its price objective decreased by JPMorgan Chase & Co. from $21.00 to $19.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets cut their price target on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company started coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Macquarie lowered their price target on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada dropped their target price on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Morgan Stanley upped their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Two 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Price Performance

NYSE:DV traded up $0.23 during midday trading on Thursday, hitting $19.56. The company’s stock had a trading volume of 71,346 shares, compared to its average volume of 2,371,716. The firm has a market cap of $3.31 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.45 and a beta of 0.90. The firm’s 50 day moving average is $17.53 and its 200-day moving average is $19.36. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

DoubleVerify declared that its Board of Directors has approved a share repurchase program on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 7,056 shares of company stock worth $119,634 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in DoubleVerify during the 1st quarter valued at $309,000. Whittier Trust Co. acquired a new stake in shares of DoubleVerify during the first quarter worth $28,000. Texas Permanent School Fund Corp boosted its position in shares of DoubleVerify by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 121,991 shares of the company’s stock valued at $4,289,000 after purchasing an additional 1,585 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in DoubleVerify by 47.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company’s stock worth $1,482,000 after purchasing an additional 13,579 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock valued at $4,163,000 after buying an additional 45,689 shares in the last quarter. 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.