DoubleVerify (NYSE:DV) Receives “Neutral” Rating from The Goldman Sachs Group

DoubleVerify (NYSE:DV)‘s stock had its “neutral” rating reiterated by The Goldman Sachs Group in a note issued to investors on Friday. They presently have a $20.00 target price on the stock, down from their prior target price of $24.00. The Goldman Sachs Group’s price target suggests a potential downside of 8.15% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a report on Monday, January 27th. Canaccord Genuity Group decreased their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Scotiabank initiated coverage on DoubleVerify in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Finally, Morgan Stanley lowered their target price on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.74.

DoubleVerify Trading Up 0.9 %

DV stock opened at $21.77 on Friday. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $40.09. The business’s 50 day simple moving average is $20.66 and its 200 day simple moving average is $19.32. The firm has a market capitalization of $3.68 billion, a PE ratio of 58.85, a PEG ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently bought and sold shares of DV. Jefferies Financial Group Inc. acquired a new stake in shares of DoubleVerify during the fourth quarter valued at about $6,422,000. Mackenzie Financial Corp boosted its position in DoubleVerify by 20.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock worth $108,753,000 after buying an additional 948,529 shares during the period. Neo Ivy Capital Management grew its holdings in DoubleVerify by 271.0% during the 4th quarter. Neo Ivy Capital Management now owns 174,897 shares of the company’s stock worth $3,359,000 after acquiring an additional 127,751 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after acquiring an additional 2,073,279 shares during the period. Finally, Kolinsky Wealth Management LLC bought a new position in shares of DoubleVerify during the fourth quarter valued at $347,000. 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.