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

DoubleVerify Holdings, Inc. (NYSE:DV) has been given a consensus rating of “Moderate Buy” by the twenty-one research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $24.00.

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of DoubleVerify in a research report on Wednesday, December 11th. Finally, Morgan Stanley dropped their price target on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake 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 in the last quarter. True Wealth Design LLC purchased a new position in DoubleVerify in the 3rd quarter valued at approximately $29,000. Quadrant Capital Group LLC grew its stake 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 in the last quarter. GAMMA Investing LLC grew its stake 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 in the last quarter. Finally, Allianz SE purchased a new position in DoubleVerify in the 4th quarter valued at approximately $41,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $22.37 on Thursday. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 60.47, a PEG ratio of 2.63 and a beta of 0.99. The firm’s 50-day simple moving average is $20.54 and its 200 day simple moving average is $19.26.

DoubleVerify announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.