Barclays Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price objective decreased by equities researchers at Barclays from $27.00 to $25.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 25.63% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Scotiabank initiated coverage on DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Macquarie reiterated an “outperform” rating and set a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of DoubleVerify in a report on Friday, January 10th. Finally, Stifel Nicolaus reduced their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Stock Performance

DoubleVerify stock opened at $19.90 on Thursday. The stock has a market cap of $3.37 billion, a P/E ratio of 53.78, a PEG ratio of 2.35 and a beta of 0.98. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The firm’s fifty day moving average price is $19.86 and its 200-day moving average price is $19.00.

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

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Thursday, November 14th. The shares were 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 in the company, valued at approximately $1,656,439.40. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in DoubleVerify by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 863 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after acquiring an additional 1,218 shares in the last quarter. Covestor Ltd raised its position in shares of DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of DoubleVerify by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock worth $6,185,000 after acquiring an additional 1,279 shares in the last quarter. Hedge funds and other 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.