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

DoubleVerify (NYSE:DV) had its target price cut by Barclays from $27.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the company. 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. Wells Fargo & Company initiated coverage on DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Raymond James assumed coverage on shares of DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price objective for the company. The Goldman Sachs Group dropped their target price 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. Finally, Scotiabank assumed 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 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 stock. According to MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Stock Down 0.9 %

DV opened at $19.72 on Thursday. The stock has a market cap of $3.34 billion, a PE ratio of 53.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. DoubleVerify has a twelve month low of $16.11 and a twelve month high of $43.00. The company has a fifty day moving average of $19.86 and a 200-day moving average of $19.01.

DoubleVerify announced that its board has approved a share repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction dated Wednesday, December 18th. The shares were 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 owns 85,882 shares in the company, valued at approximately $1,761,439.82. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new stake in shares of DoubleVerify in the third quarter valued at $794,000. Mackenzie Financial Corp purchased a new stake in DoubleVerify during the second quarter valued at about $53,015,000. GSA Capital Partners LLP boosted its position in DoubleVerify by 280.9% during the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after purchasing an additional 53,326 shares during the period. Repertoire Partners LP increased its stake in shares of DoubleVerify by 1,041.7% in the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after purchasing an additional 625,000 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV raised its position in shares of DoubleVerify by 259.8% in the third quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock valued at $1,846,000 after purchasing an additional 79,145 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.