DoubleVerify’s (DV) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of DoubleVerify (NYSE:DV) in a research note issued to investors on Friday morning,Benzinga reports. JMP Securities currently has a $25.00 price objective on the stock.

DV has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of DoubleVerify in a report on Wednesday, December 11th. Raymond James assumed coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 target price on the stock. 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 research note on Thursday, November 7th. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company initiated coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price on the stock. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.21.

DoubleVerify Stock Down 3.2 %

NYSE DV opened at $19.32 on Friday. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The business has a 50 day moving average price of $19.85 and a two-hundred day moving average price of $19.01. The stock has a market cap of $3.27 billion, a PE ratio of 52.22, a P/E/G ratio of 3.18 and a beta of 0.97.

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

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’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 completion of the transaction, the chief financial officer now owns 81,598 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 5,599 shares of company stock valued at $107,233 over the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DV. Wealth Enhancement Advisory Services LLC increased its stake in DoubleVerify by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after buying an additional 526 shares during the period. Diversified Trust Co bought a new position in shares of DoubleVerify in the fourth quarter valued at approximately $504,000. GAMMA Investing LLC increased its stake in shares of DoubleVerify by 73.6% during the fourth 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 period. JPMorgan Chase & Co. raised its holdings in DoubleVerify by 77.7% during the third quarter. JPMorgan Chase & Co. now owns 645,233 shares of the company’s stock worth $10,866,000 after purchasing an additional 282,051 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in DoubleVerify by 4.8% in the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock worth $34,264,000 after purchasing an additional 94,095 shares during the period. Institutional investors 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.