DoubleVerify (NYSE:DV) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of DoubleVerify (NYSE:DV) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued an outperform rating and a $25.00 price objective on the stock.

A number of other research firms also recently issued reports on DV. JPMorgan Chase & Co. reduced their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley cut their price target on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Barclays raised their target price on DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group lowered their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $24.11.

DoubleVerify Trading Up 1.4 %

Shares of DV opened at $19.96 on Wednesday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.29 and a beta of 0.97. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The stock has a 50 day moving average of $19.13 and a 200-day moving average of $18.92.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at DoubleVerify

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

Institutional Trading of DoubleVerify

A number of large investors have recently added to or reduced their stakes in DV. True Wealth Design LLC bought a new position in shares of DoubleVerify in the third quarter valued at $29,000. CWM LLC raised its position in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of DoubleVerify during the third quarter valued at $49,000. Fifth Third Bancorp boosted its position in shares of DoubleVerify by 72.3% in the 2nd 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 period. Finally, KBC Group NV increased its stake in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

About DoubleVerify

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.