DoubleVerify (NYSE:DV) Given Market Outperform Rating at JMP Securities

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a report issued on Friday,Benzinga reports. They currently have a $25.00 price objective on the stock. JMP Securities’ price target indicates a potential upside of 29.40% from the stock’s previous close.

DV has been the subject of several other reports. BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Piper Sandler cut their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays upped their price objective on shares of DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.21.

DoubleVerify Stock Down 3.2 %

NYSE DV opened at $19.32 on Friday. The company has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $19.01. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 52.22, a PEG ratio of 3.18 and a beta of 0.97.

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

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,656,439.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 5,599 shares of company stock valued at $107,233 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after buying an additional 360,445 shares in the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify in the second quarter worth approximately $54,099,000. Mackenzie Financial Corp purchased a new position in shares of DoubleVerify during the second quarter valued at approximately $53,015,000. Geneva Capital Management LLC lifted its position in DoubleVerify by 2.8% during the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock valued at $43,017,000 after purchasing an additional 69,780 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in DoubleVerify by 36.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after purchasing an additional 643,679 shares during the last quarter. Hedge funds and other institutional investors 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.