DoubleVerify Holdings, Inc. (NYSE:DV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.47.

Several equities analysts have recently commented on the stock. JMP Securities reduced their price target on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus reduced their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler lowered their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley dropped their price target on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of DoubleVerify in a report on Thursday, November 7th.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,339,023.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 7,056 shares of company stock valued at $119,634. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Large investors have recently made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of DoubleVerify by 7.4% during the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after acquiring an additional 746 shares during the last quarter. Arizona State Retirement System grew its holdings in DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock valued at $793,000 after purchasing an additional 927 shares during the last quarter. Gagnon Securities LLC raised its position in shares of DoubleVerify by 1.2% in the first quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after purchasing an additional 1,045 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of DoubleVerify by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after buying an additional 1,218 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Price Performance

NYSE:DV opened at $20.14 on Tuesday. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The stock has a market cap of $3.41 billion, a P/E ratio of 54.43, a PEG ratio of 2.45 and a beta of 0.90. The firm has a 50-day moving average of $17.54 and a two-hundred day moving average of $19.29.

DoubleVerify declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.