The Goldman Sachs Group Reaffirms “Neutral” Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “neutral” rating reiterated by The Goldman Sachs Group in a research report issued on Friday, MarketBeat.com reports. They presently have a $20.00 price objective on the stock, down from their prior price objective of $24.00. The Goldman Sachs Group’s target price suggests a potential upside of 43.88% from the company’s previous close.

A number of other equities research analysts also recently weighed in on DV. Raymond James assumed coverage on shares of DoubleVerify in a research note on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target on the stock. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Truist Financial decreased their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.37.

DoubleVerify Trading Down 36.0 %

Shares of DoubleVerify stock opened at $13.90 on Friday. The company’s fifty day simple moving average is $20.54 and its 200-day simple moving average is $19.30. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.63 and a beta of 0.99. DoubleVerify has a 1 year low of $13.42 and a 1 year high of $35.57.

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

Insider Activity

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction that occurred 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 directly owns 85,882 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several hedge funds have recently modified their holdings of DV. Wealth Enhancement Advisory Services LLC bought a new stake in shares of DoubleVerify during the third quarter valued at approximately $472,000. Harvey Capital Management Inc. bought a new position in DoubleVerify in the third quarter valued at approximately $462,000. Robeco Institutional Asset Management B.V. bought a new position in DoubleVerify in the third quarter valued at approximately $1,323,000. M&G PLC boosted its stake in DoubleVerify by 3.0% in the third quarter. M&G PLC now owns 501,171 shares of the company’s stock valued at $8,520,000 after acquiring an additional 14,392 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in DoubleVerify by 4.8% in the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after acquiring an additional 94,095 shares during the last quarter. 97.29% of the stock is 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.