Barclays Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price objective cut by equities research analysts at Barclays from $25.00 to $24.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 72.66% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on DV. 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. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of DoubleVerify in a research note on Friday. Morgan Stanley cut their price objective on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set 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 assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.37.

DoubleVerify Trading Down 36.0 %

Shares of DoubleVerify stock traded down $7.83 on Friday, hitting $13.90. 14,904,430 shares of the company traded hands, compared to its average volume of 1,809,537. DoubleVerify has a 12-month low of $13.42 and a 12-month high of $35.57. The company has a market cap of $2.35 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.63 and a beta of 0.99. The firm’s 50-day simple moving average is $20.66 and its 200 day simple moving average is $19.32.

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

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 981 shares during the last quarter. True Wealth Design LLC purchased a new position in DoubleVerify during the third quarter valued at $29,000. Quadrant Capital Group LLC raised its stake in DoubleVerify by 171.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares during the last quarter. GAMMA Investing LLC boosted its holdings in DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares in the last quarter. Finally, Allianz SE purchased a new stake in shares of DoubleVerify in the fourth quarter worth $41,000. 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.