The Goldman Sachs Group Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its target price reduced by equities research analysts at The Goldman Sachs Group from $20.00 to $15.50 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 26.89% from the stock’s previous close.

DV has been the topic of several other research reports. Morgan Stanley lowered their target price on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Robert W. Baird reissued a “neutral” rating and issued a $14.00 price objective (down from $20.00) on shares of DoubleVerify in a research note on Friday, March 28th. Bank of America upgraded shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. Stifel Nicolaus set a $20.00 price target on shares of DoubleVerify in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.78.

DoubleVerify Stock Up 0.4 %

Shares of NYSE DV opened at $12.22 on Monday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. DoubleVerify has a 52 week low of $11.52 and a 52 week high of $31.15. The firm has a 50-day moving average price of $16.30 and a 200 day moving average price of $18.19.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

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