DoubleVerify (NYSE:DV) Stock Rating Lowered by Loop Capital

DoubleVerify (NYSE:DV) was downgraded by stock analysts at Loop Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $16.00 price objective on the stock, down from their previous price objective of $24.00. Loop Capital’s price objective suggests a potential upside of 8.22% from the company’s current price.

DV has been the subject of a number of other research reports. Stifel Nicolaus set a $20.00 target price on shares of DoubleVerify in a research report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research note on Monday, January 27th. Morgan Stanley cut their price target on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial cut their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Scotiabank assumed coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

DoubleVerify Trading Up 4.0 %

DoubleVerify stock opened at $14.79 on Tuesday. The company has a market cap of $2.50 billion, a P/E ratio of 39.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99. DoubleVerify has a 1-year low of $13.42 and a 1-year high of $35.57. The company has a fifty day simple moving average of $20.24 and a 200 day simple moving average of $19.21.

DoubleVerify declared that its board has approved a share repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction dated 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 approximately $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On DoubleVerify

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in DoubleVerify by 168.0% in the 4th 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 during the period. True Wealth Design LLC bought a new position in DoubleVerify in the 3rd quarter valued at about $29,000. Quadrant Capital Group LLC increased its holdings in DoubleVerify by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares during the period. GAMMA Investing LLC increased its holdings in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares during the period. Finally, Allianz SE bought a new position in DoubleVerify in the 4th quarter valued at about $41,000. 97.29% of the stock is 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.