DoubleVerify’s (DV) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of DoubleVerify (NYSE:DV) in a report published on Monday,Benzinga reports. JMP Securities currently has a $25.00 price target on the stock.

Several other research firms also recently commented on DV. BMO Capital Markets reduced their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Scotiabank initiated coverage on shares of DoubleVerify in a report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective for the company. Canaccord Genuity Group dropped 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. Piper Sandler cut their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Raymond James started coverage on DoubleVerify in a report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and an average target price of $24.00.

DoubleVerify Trading Down 0.5 %

Shares of DV opened at $20.57 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 55.59, a P/E/G ratio of 2.34 and a beta of 0.98. The business’s fifty day simple moving average is $19.95 and its two-hundred day simple moving average is $19.01. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00.

DoubleVerify announced that its board has approved a share 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 typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,071 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DV. True Wealth Design LLC purchased a new stake in shares of DoubleVerify in the third quarter worth about $29,000. GAMMA Investing LLC boosted its position in shares of DoubleVerify by 73.6% during the 4th 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. Capital Performance Advisors LLP purchased a new position in shares of DoubleVerify in the third quarter valued at $49,000. KBC Group NV increased its position in DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Covestor Ltd raised its stake in DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares in the last quarter. 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.