Barclays Cuts DoubleVerify (NYSE:DV) Price Target to $24.00

DoubleVerify (NYSE:DV) had its price target lowered by investment analysts at Barclays from $25.00 to $24.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 72.66% from the stock’s previous close.

DV has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a report on Wednesday, December 11th. Morgan Stanley decreased 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. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research note on Monday, January 27th. Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.37.

DoubleVerify Price Performance

NYSE DV traded down $7.83 during trading hours on Friday, hitting $13.90. The company’s stock had a trading volume of 14,904,430 shares, compared to its average volume of 1,809,537. DoubleVerify has a 12 month low of $13.42 and a 12 month high of $35.57. The company’s 50 day simple moving average is $20.66 and its two-hundred day simple moving average is $19.32. The company has a market cap of $2.35 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its board has authorized a share repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of DoubleVerify

Hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of DoubleVerify in the third quarter worth about $29,000. Smartleaf Asset Management LLC grew its holdings in DoubleVerify by 168.0% during 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. GAMMA Investing LLC increased its stake in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares in the last quarter. Finally, Allianz SE bought a new position in shares of DoubleVerify during the 4th quarter valued at approximately $41,000. 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.