DoubleVerify’s (DV) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of DoubleVerify (NYSE:DV) in a research note released on Friday morning, MarketBeat.com reports. They currently have a $20.00 target price on the stock, down from their previous target price of $24.00.

Several other equities research analysts have also issued reports on DV. JPMorgan Chase & Co. lowered their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Raymond James started coverage on shares of DoubleVerify in a report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Barclays lowered their target price on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus target price of $23.37.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $13.90 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99. The company’s fifty day moving average price is $20.54 and its two-hundred day moving average price is $19.29. DoubleVerify has a 52-week low of $13.42 and a 52-week high of $35.57.

DoubleVerify declared that its board has initiated a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of DoubleVerify by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock valued at $335,816,000 after acquiring an additional 143,773 shares during the period. Mackenzie Financial Corp raised its position in shares of DoubleVerify by 20.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after acquiring an additional 948,529 shares during the period. Burgundy Asset Management Ltd. raised its position in shares of DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after acquiring an additional 2,073,279 shares during the period. AQR Capital Management LLC raised its position in shares of DoubleVerify by 29.5% in the 4th quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock valued at $50,002,000 after acquiring an additional 592,435 shares during the period. Finally, Geneva Capital Management LLC raised its position in shares of DoubleVerify by 0.8% in the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after acquiring an additional 19,684 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.