Truist Financial Lowers DoubleVerify (NYSE:DV) Price Target to $23.00

DoubleVerify (NYSE:DV) had its target price reduced by equities researchers at Truist Financial from $26.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 18.92% from the stock’s previous close.

DV has been the topic of a number of other reports. JMP Securities reduced their target price on shares of DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Macquarie cut their target price on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Morgan Stanley raised their price target on DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Trading Down 1.9 %

NYSE:DV opened at $19.34 on Thursday. The company has a market capitalization of $3.29 billion, a P/E ratio of 55.26, a P/E/G ratio of 2.44 and a beta of 0.90. The business’s 50-day moving average is $17.53 and its 200 day moving average is $19.52. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The business had revenue of $169.56 million for the quarter, compared to analysts’ expectations of $168.93 million. On average, research analysts forecast that DoubleVerify will post 0.3 earnings per share for the current year.

DoubleVerify declared that its Board of Directors has initiated a stock buyback plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 7,056 shares of company stock valued at $119,634 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new stake in DoubleVerify during the 2nd quarter valued at about $73,268,000. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify in the 2nd quarter valued at about $54,099,000. Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify during the second quarter worth approximately $53,015,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of DoubleVerify in the first quarter valued at about $53,584,000. Finally, Capital International Investors raised its holdings in DoubleVerify by 104.7% in the 1st quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock valued at $59,117,000 after acquiring an additional 859,922 shares during the last quarter. 97.29% of the stock is 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.