DoubleVerify Holdings, Inc. (NYSE:DV) Receives $24.11 Average PT from Analysts

Shares of DoubleVerify Holdings, Inc. (NYSE:DVGet Free Report) have been given an average rating of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment 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. The average 12-month target price among analysts that have covered the stock in the last year is $24.21.

A number of analysts have recently issued reports on DV shares. BMO Capital Markets reduced their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Raymond James began coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of DoubleVerify in a research note on Wednesday, December 11th. Barclays increased their price target 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, JMP Securities dropped their price objective on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 7th.

Get Our Latest Stock Report on DV

DoubleVerify Stock Performance

Shares of NYSE:DV opened at $19.61 on Wednesday. The firm has a 50 day simple moving average of $19.61 and a 200 day simple moving average of $18.99. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The company has a market cap of $3.32 billion, a PE ratio of 53.00, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $17.21, for a total transaction of $30,358.44. Following the completion of the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,404,301.58. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 7,363 shares of company stock worth $137,591 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DV. Neo Ivy Capital Management bought a new position in shares of DoubleVerify during the 3rd quarter worth about $794,000. Mackenzie Financial Corp bought a new position in DoubleVerify during the second quarter valued at about $53,015,000. GSA Capital Partners LLP raised its holdings in DoubleVerify by 280.9% in the 3rd quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock valued at $1,218,000 after acquiring an additional 53,326 shares in the last quarter. Repertoire Partners LP lifted its position in shares of DoubleVerify by 1,041.7% in the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after acquiring an additional 625,000 shares during the period. Finally, Townsend Asset Management Corp NC ADV grew its holdings in shares of DoubleVerify by 259.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after purchasing an additional 79,145 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

DoubleVerify Company Profile

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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.

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Analyst Recommendations for DoubleVerify (NYSE:DV)

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