DoubleVerify (NYSE:DV) Given New $24.00 Price Target at Royal Bank of Canada

DoubleVerify (NYSE:DV) had its price target lifted by Royal Bank of Canada from $22.00 to $24.00 in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

DV has been the subject of several other research reports. Barclays boosted their price objective on DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JMP Securities dropped their price target on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. 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, JPMorgan Chase & Co. reduced their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus target price of $24.21.

DoubleVerify Trading Up 1.8 %

DV opened at $19.61 on Friday. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The business’s 50-day moving average price is $19.61 and its 200-day moving average price is $18.99. The company has a market cap of $3.32 billion, a P/E ratio of 53.00, a P/E/G ratio of 3.29 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has approved a share repurchase program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 7,363 shares of company stock worth $137,591 in the last 90 days. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently bought and sold shares of DV. True Wealth Design LLC bought a new stake in shares of DoubleVerify in the 3rd quarter worth $29,000. GAMMA Investing LLC boosted its holdings 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 bought a new stake in shares of DoubleVerify in the third quarter worth approximately $49,000. KBC Group NV raised its holdings in shares of DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Covestor Ltd lifted its position 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 during the period. 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.