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

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

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. 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. Canaccord Genuity Group lowered their target price on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Truist Financial cut their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Price Performance

Shares of NYSE:DV opened at $19.72 on Thursday. The company’s 50-day moving average price is $19.86 and its two-hundred day moving average price is $19.01. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The stock has a market capitalization 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 declared that its board has approved a stock repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other 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 transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in DoubleVerify by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after buying an additional 526 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of DoubleVerify by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after purchasing an additional 1,218 shares during the period. Covestor Ltd grew its stake in shares of DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in DoubleVerify by 0.3% in the third quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock valued at $6,185,000 after purchasing an additional 1,279 shares during the period. 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.