Morgan Stanley Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price target reduced by Morgan Stanley from $23.00 to $21.00 in a research report released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Macquarie reiterated an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a report on Thursday. Barclays dropped their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. JMP Securities dropped their target price on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Trading Down 2.0 %

Shares of DV stock opened at $19.33 on Thursday. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 2.73 and a beta of 0.90. The stock has a 50 day simple moving average of $17.53 and a 200-day simple moving average of $19.44.

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

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,410,013.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 7,056 shares of company stock worth $119,634. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its holdings in DoubleVerify by 127.9% in the 3rd quarter. Intech Investment Management LLC now owns 165,509 shares of the company’s stock valued at $2,787,000 after acquiring an additional 92,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of DoubleVerify during the 3rd quarter worth $2,128,000. Quest Partners LLC increased its holdings in shares of DoubleVerify by 209,440.0% during the 3rd quarter. Quest Partners LLC now owns 31,431 shares of the company’s stock worth $529,000 after buying an additional 31,416 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of DoubleVerify during the 3rd quarter worth $222,000. Finally, ING Groep NV acquired a new stake in shares of DoubleVerify during the 3rd quarter worth $7,378,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.