DoubleVerify Holdings, Inc. (NYSE:DV) Receives Average Rating of “Moderate Buy” from Analysts

DoubleVerify Holdings, Inc. (NYSE:DV) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.00.

Several equities analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a research report on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays lowered their price objective on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Scotiabank started coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Finally, Truist Financial dropped their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

DoubleVerify Trading Down 2.4 %

NYSE:DV opened at $22.51 on Thursday. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00. The stock has a 50-day moving average price of $20.42 and a two-hundred day moving average price of $19.19. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 60.82, a PEG ratio of 2.66 and a beta of 0.99.

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

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value 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. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DV. True Wealth Design LLC acquired a new position in DoubleVerify in the 3rd quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its holdings in shares of DoubleVerify by 168.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after acquiring an additional 981 shares during the period. GAMMA Investing LLC grew its position in shares of DoubleVerify by 73.6% in 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 during the last quarter. Quadrant Capital Group LLC increased its stake in shares of DoubleVerify by 171.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the period. Finally, Allianz SE acquired a new stake in DoubleVerify during the 4th quarter worth approximately $41,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.