DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.47 Consensus PT from Analysts

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $24.47.

A number of brokerages have recently issued reports on DV. JMP Securities lowered their target price on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a research note on Tuesday, September 17th. Finally, Piper Sandler dropped their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd.

Insider Buying and Selling

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,339,023.18. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,056 shares of company stock worth $119,634 in the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. grew its stake in shares of DoubleVerify by 47.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company’s stock worth $1,482,000 after purchasing an additional 13,579 shares during the period. Swiss National Bank grew its position in DoubleVerify by 15.4% during the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock valued at $10,063,000 after buying an additional 38,200 shares during the period. Sei Investments Co. increased its holdings in DoubleVerify by 3.1% in the first quarter. Sei Investments Co. now owns 459,850 shares of the company’s stock valued at $16,168,000 after buying an additional 14,000 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of DoubleVerify by 22.0% in the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock worth $6,443,000 after acquiring an additional 33,003 shares during the period. Finally, US Bancorp DE boosted its stake in shares of DoubleVerify by 186.8% during the 1st quarter. US Bancorp DE now owns 93,381 shares of the company’s stock worth $3,283,000 after acquiring an additional 60,824 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Stock Performance

Shares of DV stock opened at $19.14 on Tuesday. The stock has a 50 day moving average price of $17.62 and a 200 day moving average price of $19.08. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00. The firm has a market capitalization of $3.24 billion, a P/E ratio of 51.73, a P/E/G ratio of 2.42 and a beta of 0.90.

DoubleVerify announced that its board has authorized a share buyback program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.