DoubleVerify (NYSE:DV) Upgraded by Bank of America to “Neutral” Rating

Bank of America upgraded shares of DoubleVerify (NYSE:DV) from an underperform rating to a neutral rating in a research note published on Friday morning, Marketbeat reports.

DV has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. 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 report on Thursday, January 23rd. Morgan Stanley cut their target price on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Scotiabank assumed coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. One equities 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.37.

DoubleVerify Price Performance

Shares of DV opened at $13.90 on Friday. DoubleVerify has a 1 year low of $13.42 and a 1 year high of $35.57. The company has a 50 day simple moving average of $20.54 and a two-hundred day simple moving average of $19.29. The firm 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 announced that its board has authorized a stock repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 981 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of DoubleVerify in the third quarter valued at about $29,000. Quadrant Capital Group LLC raised its holdings in shares of DoubleVerify by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after acquiring an additional 1,285 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of DoubleVerify by 73.6% in 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 in the last quarter. Finally, Allianz SE bought a new stake in shares of DoubleVerify in the fourth quarter valued at about $41,000. 97.29% of the stock is currently owned by institutional investors.

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.