DoubleVerify Holdings, Inc. (NYSE:DV) Given Average Recommendation of “Moderate Buy” by Brokerages

DoubleVerify Holdings, Inc. (NYSE:DV) has received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.00.

DV has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Canaccord Genuity Group cut their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a report on Wednesday, December 11th. 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. Finally, Macquarie reissued an “outperform” rating and issued a $19.00 price objective on shares of DoubleVerify in a report on Thursday, November 7th.

DoubleVerify Price Performance

Shares of NYSE DV opened at $22.37 on Thursday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 60.47, a P/E/G ratio of 2.63 and a beta of 0.99. The stock’s fifty day moving average price is $20.54 and its two-hundred day moving average price is $19.26. DoubleVerify has a one year low of $16.11 and a one year high of $43.00.

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

Insider Activity

In related news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value 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 $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

A number of institutional investors have recently bought and sold shares of DV. True Wealth Design LLC bought a new position in shares of DoubleVerify during the 3rd quarter worth about $29,000. Smartleaf Asset Management LLC boosted its position in shares of DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after purchasing an additional 981 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after purchasing an additional 863 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Allianz SE bought a new position in shares of DoubleVerify during the 4th quarter worth about $41,000. 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.