DoubleVerify (NYSE:DV) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

DoubleVerify (NYSE:DV) had its target price decreased by research analysts at Canaccord Genuity Group from $36.00 to $30.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 48.88% from the stock’s current price.

Several other equities analysts have also issued reports on DV. Truist Financial cut their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Royal Bank of Canada dropped their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler reduced their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays dropped their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.53.

DoubleVerify Trading Up 3.1 %

NYSE DV traded up $0.60 on Thursday, hitting $20.15. 3,570,966 shares of the company were exchanged, compared to its average volume of 2,362,048. DoubleVerify has a 1-year low of $16.11 and a 1-year high of $43.00. The firm has a 50 day moving average of $17.54 and a two-hundred day moving average of $19.59. The company has a market cap of $3.43 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $169.56 million for the quarter, compared to analysts’ expectations of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. Research analysts anticipate that DoubleVerify will post 0.3 EPS for the current fiscal year.

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

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,339,023.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 7,056 shares of company stock worth $119,634. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. bought a new position in DoubleVerify in the 1st quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify during the 3rd quarter worth $49,000. CWM LLC boosted its stake in DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after buying an additional 1,900 shares in the last quarter. Fifth Third Bancorp raised its stake in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of 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 acquiring an additional 1,325 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.