Raymond James Begins Coverage on DoubleVerify (NYSE:DV)

Raymond James began coverage on shares of DoubleVerify (NYSE:DV) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ price target suggests a potential upside of 26.97% from the company’s previous close.

A number of other equities analysts have also issued reports on DV. JMP Securities lowered their price target on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, November 7th. Macquarie reissued an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays upped their price objective on shares of DoubleVerify from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Piper Sandler lowered their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.11.

DoubleVerify Stock Performance

Shares of DoubleVerify stock opened at $19.69 on Wednesday. The company has a market capitalization of $3.33 billion, a P/E ratio of 53.22, a PEG ratio of 3.29 and a beta of 0.97. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00. The company’s fifty day moving average is $19.07 and its two-hundred day moving average is $18.90.

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

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 10,891 shares of company stock valued at $197,920. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in DoubleVerify in the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in shares of DoubleVerify during the third quarter worth $49,000. CWM LLC grew its position in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp increased its stake in DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after purchasing an additional 1,742 shares during the last quarter. Finally, KBC Group NV lifted its position in DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.