DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.00 Average Price Target from Brokerages

DoubleVerify Holdings, Inc. (NYSE:DV) has earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.00.

A number of analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company initiated coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target for the company. BMO Capital Markets lowered their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler reduced their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $20.69 on Friday. The stock has a 50-day simple moving average of $19.92 and a 200-day simple moving average of $19.00. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 2.34 and a beta of 0.98.

DoubleVerify announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently modified their holdings of DV. Assenagon Asset Management S.A. lifted its holdings in DoubleVerify by 9.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of DoubleVerify in the second quarter valued at about $53,015,000. Geneva Capital Management LLC lifted its position in DoubleVerify by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after buying an additional 69,780 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in DoubleVerify by 36.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after acquiring an additional 643,679 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after acquiring an additional 10,696 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.