DoubleVerify (NYSE:DV) Price Target Lowered to $25.00 at JMP Securities

DoubleVerify (NYSE:DV) had its price objective cut by analysts at JMP Securities from $33.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 24.07% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays lowered their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Truist Financial decreased their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.53.

DoubleVerify Trading Up 3.1 %

Shares of DoubleVerify stock traded up $0.60 on Thursday, reaching $20.15. 3,570,966 shares of the company were exchanged, compared to its average volume of 2,362,048. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The company has a 50-day moving average of $17.54 and a 200 day moving average of $19.59. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company had revenue of $169.56 million for the quarter, compared to analysts’ expectations of $168.93 million. Analysts predict that DoubleVerify will post 0.3 earnings per share for the current year.

DoubleVerify announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 7,056 shares of company stock worth $119,634 over the last three months. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cornercap Investment Counsel Inc. acquired a new position in shares of DoubleVerify in the 3rd quarter valued at about $222,000. ING Groep NV acquired a new position in DoubleVerify in the third quarter valued at approximately $7,378,000. KBC Group NV boosted its position in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares in the last quarter. Geneva Capital Management LLC grew its stake in shares of 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 purchasing an additional 69,780 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of DoubleVerify during the 3rd quarter valued at approximately $1,222,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.