JMP Securities Reaffirms “Market Outperform” Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $25.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 20.86% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company started coverage on DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target for the company. Raymond James started coverage on DoubleVerify in a report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price objective on the stock. The Goldman Sachs Group cut their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Trading Up 2.1 %

Shares of DoubleVerify stock opened at $20.69 on Monday. DoubleVerify has a 1 year low of $16.11 and a 1 year high of $43.00. The company’s fifty day simple moving average is $19.92 and its 200-day simple moving average is $19.00. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 2.34 and a beta of 0.98.

DoubleVerify announced that its board has approved a stock buyback plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,656,439.40. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC bought a new position in DoubleVerify in the third quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in DoubleVerify in the 3rd quarter valued at approximately $49,000. KBC Group NV boosted its position in DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after acquiring an additional 1,325 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of DoubleVerify during the 4th quarter worth approximately $113,000. 97.29% of the stock is owned by institutional investors.

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.