DoubleVerify (NYSE:DV) Price Target Lowered to $26.00 at Canaccord Genuity Group

DoubleVerify (NYSE:DV) had its price objective reduced by equities research analysts at Canaccord Genuity Group from $30.00 to $26.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 74.92% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Barclays cut their target price on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Macquarie reaffirmed an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Scotiabank started coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

DoubleVerify Trading Down 31.6 %

DV traded down $6.87 during trading on Friday, hitting $14.86. The stock had a trading volume of 3,907,986 shares, compared to its average volume of 1,515,478. The company has a 50 day simple moving average of $20.66 and a 200-day simple moving average of $19.32. The firm has a market cap of $2.51 billion, a PE ratio of 40.82, a P/E/G ratio of 2.63 and a beta of 0.99. DoubleVerify has a 12 month low of $14.71 and a 12 month high of $35.57.

DoubleVerify declared that its board has initiated a stock repurchase program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in DoubleVerify by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock worth $549,000 after purchasing an additional 526 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of DoubleVerify by 6.3% in the fourth quarter. Federated Hermes Inc. now owns 9,571 shares of the company’s stock valued at $184,000 after acquiring an additional 571 shares in the last quarter. GAMMA Investing LLC increased its position in shares of DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in DoubleVerify by 168.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after acquiring an additional 981 shares during the period. Finally, Summit Creek Advisors LLC increased its holdings in DoubleVerify by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 368,578 shares of the company’s stock worth $7,080,000 after buying an additional 1,153 shares during the last quarter. 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.