Raymond James Initiates Coverage on DoubleVerify (NYSE:DV)

Equities research analysts at Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 25.34% from the stock’s previous close.

A number of other brokerages also recently issued reports on DV. BMO Capital Markets cut their price target on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Macquarie reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Canaccord Genuity Group lowered their target price on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley cut their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lowered their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.11.

DoubleVerify Stock Down 0.8 %

Shares of NYSE DV opened at $19.95 on Wednesday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The firm has a 50-day simple moving average of $18.95 and a 200-day simple moving average of $18.89.

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

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction 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 transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,339,023.18. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several large investors have recently bought and sold shares of DV. Assenagon Asset Management S.A. boosted its holdings in DoubleVerify by 9.6% in the third 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. Van Berkom & Associates Inc. grew its position in shares of DoubleVerify by 25.9% during the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after buying an additional 626,586 shares in the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify in the second quarter worth $54,099,000. Mackenzie Financial Corp acquired a new stake in DoubleVerify in the second quarter valued at $53,015,000. Finally, Geneva Capital Management LLC boosted its stake in DoubleVerify by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock valued at $43,017,000 after acquiring an additional 69,780 shares during the last quarter. Institutional investors and hedge funds 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.